U.S. announces withdrawal from TPP

U.S. announces withdrawal from TPP
Image: Nikkei Asian Review video screen grab

Soon after President Donald Trump was sworn in, his administration announced the U.S. withdrawal from the Trans-Pacific Partnership, a trade pact championed by former President Barack Obama and Japanese Prime Minister Shinzo Abe.

The White House on Friday also wasted no time in declaring a renegotiation of the North Atlantic Free Trade Agreement, or NAFTA. Trump is expected to take a more isolationist, protectionist stance, and the international community is concerned that the U.S. will continue to draw inward.

Trump was sworn in as the 45th president of the U.S. on Friday, repeating his campaign pledges of putting American interests first and restoring national glory to a deeply polarized public.

“We are transferring power from Washington, D.C., and giving it back to you, the people,” Trump, dressed in a navy suit and red tie, said in his inaugural address. He pledged to rebuild the U.S. and create jobs under his “America first” policy, and urged the country to unite.

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