US to quit TPP trade deal on first day in office- Trump

Chidi SAmuel with agency reports

Donald Trump, the President-elect, says the US will cease to be part of the Trans- Pacific Partnership trade deal on his first day in office. The president elect disclosed this in a video message outlining what his priorities are, ahead of his assumption of office on the 20th of January 2017.

The TPP, a massive trade deal was agreed in 2015 by nations including the US, Japan, Malaysia, Australia, New Zealand, Canada and Mexico, but is not yet ratified by the individual countries. The deal as presently constituted cover 40% of the world’s economy.

Mr Trump in the same message also pledged to reduce “job-killing restrictions” on coal production and stop visa abuses.Other highlights of Mr Trumps video message includes-

  • cancelling restrictions on US energy production
  • cutting regulations on businesses
  • ordering a plan to combat cyber-attacks
  • investigating visa abuses that undercut American workers
  • imposing a five-year ban on people leaving government to become lobbyists.
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Shortly before Mr Trump released his video, Japanese Prime Minister Shinzo Abe said the TPP would be “meaningless” without the involvement of the US.