It looks like Trump kept his promise today to renegotiate NAFTA and withdraw from the Trans-Pacific Partnership. This morning the President signed an executive order to withdraw from the TPP negotiating process..
Executive Orders are legally binding orders given by the President and are generally used to direct federal agencies and officials in their execution of congressionally established laws or policies. Many times they have been used to guide agencies in directions contrary to congressional intent.
TPP was geared toward American entrepreneurs, farmers, and small business owners to sell Made-In-America products abroad by eliminating more than 18,000 taxes and other trade barriers on American products across the 11 other countries in the trade agreement.
Trump’s main argument against TPP has been that it is harmful to American workers and manufacturing.
But it seems he forgot another sector that will be severely impacted. According to the USDA, the 11 countries in the TPP already take in more than 40 percent of U.S. agricultural exports, equating to $63 billion. The TPP would have added an additional $3 billion.
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