Throughout his campaign, he often denounced it but today new US President Donald Trump officially pulled the United States out of the Trans-Pacific Partnership trade deal. The deal was signed by the twelve would-be participant countries in February 2016, and was set to allow for more open trade between the members markets.
Upon announcing the signing of the Executive Order, which gives way for the US’ withdrawal from the agreement, Trump claimed that TPP violates the interest of working Americans.
Now the US has officially withdrawn, it is unlikely the TPP deal will be ratified and come into operation among remaining countries with Japanese Prime Minister Shinzo Abe saying, “TPP without the US does not make sense”.
The likely collapse of TPP means that Peru will lose the opportunity to gain access to new markets as part of the deal.
Last week following Trump’s Inauguration we looked at how his Presidency may effect Peru in other areas.