Donald Trump made it clear during the American presidential election that he was against the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership. In a video message outlining his plans for his first day in office, Trump said he plans to withdraw from TPP. Negotiations on the deal started in 2008 and an agreement was reached in October 2015.

“I have asked my transition team to develop a list of executive action which we can take on day one to restore our laws and bring back our jobs, it’s about time,” Trump said in his video message. “On trade, I’m going to issue a notification of intent to withdraw from the Trans-Pacific Partnership (TPP), a potential disaster for our country. Instead, we will negotiate fair bilateral trade deals that will bring jobs and industry back onto American shores.”

The multimillion dollar trade deal involved the US and 11 other countries: Australia, New Zealand, Peru, Singapore, Japan, Brunei Darussalam, Canada, Chile, Malaysia, Mexico and Vietnam.

While this does not directly impact Europe, it indicates a similar intention for TTIP which had not yet reached an agreement.

Read more

What will a Trump presidency mean for farmers