Barack Obama wanted to reshape American politics around his globalist worldview.
The 12 nation Trans-Pacific Partnership (TPP) was supposed to be his final crowning achievement while in office.
But after Donald Trump’s election, Obama’s legacy achievement is about to be dismantled.
Donald Trump rallied massive numbers of working class voters, in part, by contending that global trade deals like the North American Free Trade Agreement (NAFTA) and the TPP were agreements only benefiting the elite and hosing the middle class.
Trump argued that well-paying American jobs were shipped overseas to Mexico and China, hollowing out the American middle class.
His pledge to drop out of the TPP and renegotiate NAFTA was central to his wins in states like Michigan, Ohio, Pennsylvania and Wisconsin.
The question then was, would President-elect Trump follow through on his campaign trail rhetoric or would Washington’s pro-global trade deal’s center of gravity suck him in like so many other politicians who said one thing on the campaign trail, but succumbed to establishment pressure once in office.
But that debate was resolved once President-elect Trump released a video outlining what the first 100 days of his administration would look like.
[email protected] update and policy plans for the first 100 days. pic.twitter.com/HTgPXfPWeJ
— Donald J. Trump (@realDonaldTrump) November 21, 2016
President-elect Trump announced that his first executive action was the intent to drop out of the TPP.
The Telegraph reports:
“I’ve asked my transition team to develop a list of executive actions we can take on day one to restore our laws and bring back our jobs,” Mr Trump said.
“On trade, I am going to issue our notification of intent to withdraw from the Trans-Pacific Partnership,” he said.
“Instead, we will negotiate fair, bilateral trade deals that bring jobs and industry back onto American shores.”
Some experts believe dropping out of the TPP will hurt China.
The Guardian reports:
“While China declined to join the TPP, feeling it was designed to isolate it politically and economically, the wider implications of the US going back on a trade deal that took seven years to negotiate is likely to harm China in the long term.
“The US leaving TPP is a problem of America rejecting globalisation,” said Da Wei, an expert on the US at the China Institute of Contemporary International Relations. “China is a beneficiary of globalisation and China is not willing to see the tide of globalisation ebb.”
While some Chinese may be happy at what they see as a political failure for the US, ultimately “China disapproves of this, China is anxious about the retreat of globalization,” Da said.”
President-elect Trump has always maintained that the Chinese benefit tremendously from globalization.
While China is not part of the TPP, America’s rejection of globalization in favor of nationalism would damage their economy, as their currency manipulation has allowed them to benefit at the expense of others in the global markets.
Do you agree with President-elect Trump’s announcement to withdraw from the TPP?
Let us know what you think in the comment section.