President Trump followed through on his promise to officially withdraw the U.S. from the Trans-Pacific Partnership. After reviewing the TPP, Trump believed it to be more detrimental to workers than NAFTA, so he promised during his campaign run to withdraw the U.S. from it. Monday, he signed an executive order stating it was a “great thing for the American worker, what we just did.”
On the campaign trail, Trump compared the TPP to NAFTA—The North American Free Trade Agreement, calling it “the worst trade deal.”
According to epi.org, America lost more than five million manufacturing jobs, from 1997 to 2014, 850,000 jobs were due to NAFTA.
The Wall Street Journal calculated that in just several years, the deal would increase the U.S. trade deficit in manufacturing, car assembly, and car part manufacturing by $55.8 billion a year. At that rate, the TPP would cost another 323,000 American manufacturing workers their jobs. Estimates are that almost a million jobs would be lost every three years.
Trump received some praise following the announcement. Teamsters Union President, James Hoffa said, “with this decision, the president has taken the first step toward fixing 30 years of bad trade policies that have cost working Americans millions of good paying jobs.”
Senator Bernie Sanders weighed in stating, “I am glad the Trans-Pacific Partnership is dead and gone.”
AFL-CIO president, Richard Trumka gave a full statement:
“Last year, a powerful coalition of labor, environmental, consumer, public health and allied groups came together to stop the TPP. Today’s announcement that the US is withdrawing from TPP and seeking a reopening of NAFTA is an important first step toward a trade policy that works for working people. While these are necessary actions, they aren’t enough. They are just the first in a series of necessary policy changes required to build a fair and just global economy. We will continue our relentless campaign to create new trade and economic rules that end special privileges for foreign investors and Big Pharma, protect our planet’s precious natural resources and ensure fair pay, safe conditions and a voice in the workplace for all workers.”
Trump fulfilled his promise, despite receiving opposition from Republicans, such as John Kasich and John McCain.
The biggest winners of the official withdrawal from the TPP are the American workers, as it will protect workers against fierce competition from low-wage countries like Vietnam.