Nairametrics| True to his campaign promise, the newly installed President of the United States (POTUS), Donald Trump, has signed an executive order demanding the withdrawal of the United States from the Trans-Pacific Partnership (TPP).
The deal which was a brainchild of erstwhile POTUS, Barack Obama, covered 40% of the world’s economy, was negotiated in 2015 by nations including the US, Japan, Malaysia, Australia, New Zealand, Canada and Mexico.
TPP’s stated aim was to strengthen economic ties and boost growth, by reducing tariffs. It included measures to enforce labor and environmental standards, copyrights, patents and other legal protections.
The agreement, backed heavily by US businesses, was designed to potentially create a new single market likened to the EU.
Still in line with some of his promises during the campaign, Trump also signed an order blocking foreign aid or federal funding for any nongovernmental organization that provides abortions abroad.
It is typically rescinded by incoming Democratic presidents, including Barack Obama in 2009, and reinstated by Republican presidents.
For one, this could be an indication of what should be expected by Africa when Trump is ready to face the continent and perhaps reverse several deals that were put in place to support African exports to the U.S. Trump has now made it clear that his administration will do what is required to fulfil as many campaign promises as possible. Several of them are linked to restricting trade deals that do not profit Americans and reducing foreign aid in general.