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The TPP Is Dead! Announced Nearly an Hour After Trump’s Visit to Obama

Friday, November 11, 2016 13:25
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(Before It's News)

U.S. Trade Representative Michael Froman, center, is joined by international counterparts in Atlanta after an agreement was reached by 12 Trans-Pacific Partnership member countries Oct. 5, 2015. (image: Erik S. Lesser/European Pressphoto Agency)

“There is no way to fix the TPP,” Trump said

The Senate’s soon-to-be-top Democrat told labor leaders Thursday that the Trans-Pacific Partnership, the trade deal at the center of President Obama’s “pivot” to strengthen ties with key Asian allies, will not be ratified by Congress.

That remark from Sen. Charles E. Schumer (D-N.Y.), who is expected to be the incoming Senate minority leader, came as good news to the AFL-CIO executive council, which met Thursday in Washington. An aide to Schumer confirmed the remarks.

Obama’s signature global trade deal had been on life support for months as both Democrats and Republicans campaigned against unfair trade policies ahead of the Nov. 8 election. And Donald Trump’s triumph in the presidential race cemented its fate.

“There is no way to fix the TPP,” Trump said in a June economic address. “We need bilateral trade deals. We do not need to enter into another massive international agreement that ties us up and binds us down.”

The deal never had much of a following among congressional Democrats to begin with. Only 28 of 188 House Democrats and 13 of 44 Senate Democrats supported granting Obama the authority to negotiate and finalize a deal last year. And Trump’s rise has decimated support for free trade among Republicans. A former U.S. Trade Representative, Sen. Rob Portman of Ohio, said he would oppose the TPP as he campaigned for reelection this year.

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The post The TPP Is Dead! Announced Nearly an Hour After Trump’s Visit to Obama appeared first on The Sleuth Journal.

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