Trump’s Withdrawal from the Trans-Pacific Partnership: Domestic Boost or Disaster?

Jenny Elkin
Vol.  38 Associate Editor

Upon election to the highest office in the United States, President Donald Trump launched a spree of executive orders. One of these orders was the swift abandonment of the Trans-Pacific Partnership (TPP), a trade deal that his predecessor, Barack Obama, had worked for years to implement.[1] The TPP was a plan to unite twelve nations of the Pacific Rim and the United States, a partnership accounting for forty percent of the world’s GDP, in a pact of free trade.[2] The plan would cut tariffs and decimate other potential obstacles to trade, such as investment restrictions and blocked data transfers.[3] The TPP would have been especially beneficial for the American services industry, including business, finance, and information, a slice of the global economy in which the United States still maintains a semblance of supremacy.[4] The deal would have opened doors for sectors such as finance, software, and legal services by reducing domestic red tape in the partner nations.[5] Continue reading