Donald Trump seems to have gambled on having a strong hand to keep ‘America First’ on this and lost….
One could wonder will his move give up American jobs and exports to other countries?
This can only help China in efforts to surpass America as the world’s biggest economy …
……On Saturday, the 11 remaining Pacific Rim countries agreed on a way forward — without the United States. The remaining bloc, whose trade totaled about $350 billionlast year, now has a blueprint to start trading more freely between themselves in a resurrected form of the deal.
There are still many details for the member countries — which include Mexico, Japan, Australia, and Canada — to work out. But the pact, called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, looks a little different from when the US was part of the negotiations through the end of Barack Obama’s presidency.
About 20 provisions that were once part of the TPP talks have been “suspended,” according to a joint statement by the agreement’s member countries. And there are still four sticking points — including a commitment on coal that affects Brunei — to solve, but experts say a final deal could be announced as early as next year. Each country would still have to sign and ratify the deal to be a member of the agreement.
Ironically, the new deal was announced while many of the bloc’s leaders were with Trump during an international forum in Vietnam. On Friday, Trump gave a speech at the gathering where he said there were “trade abuses” in Asia that hurt the American worker. That was just one day after he accused China of “taking advantage” of the US in trade — and put the blame on past US administrations.
While Trump pursues an America First foreign and trade policy, it looks like at least 11 countries don’t mind leaving America alone….