The Art Of Repeal

President Trump pulled out of the Trans-Pacific Partnership on Monday and proposed massive cuts in taxes and regulations for businesses….
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WASHINGTON — President Trump upended America’s traditional, bipartisan trade policy on Monday as he formally abandoned the ambitious, 12-nation Trans-Pacific Partnership brokered by his predecessor and declared an end to the era of multinational trade agreements that defined global economics for decades.

With the stroke of a pen on his first full weekday in office, Mr. Trump signaled that he plans to follow through on promises to take a more aggressive stance against foreign competitors as part of his “America First” approach. In doing so, he demonstrated that he would not follow old rules, effectively discarding longstanding Republican orthodoxy that expanding global trade was good for the world and America — and that the United States should help write the rules of international commerce.

Although the Trans-Pacific Partnership had not been approved by Congress, Mr. Trump’s decision to withdraw not only doomed former President Barack Obama’s signature trade achievement, but also carried broad geopolitical implications in a fast-growing region. The deal, which was to link a dozen nations from Canada and Chile to Australia and Japan in a complex web of trade rules, was sold as a way to permanently tie the United States to East Asia and create an economic bulwark against a rising China.

Instead, Mr. Trump said American workers would be protected against competition from low-wage countries like Vietnam and Malaysia, also parties to the deal.

 

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President Trump signs executive order withdrawing US from TPP

President Trump signs executive order withdrawing US from TPP

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Making good on a campaign promise, President Trump on Monday signed an executive order withdrawing the United States from the controversial Trans-Pacific Partnership trade deal.

He also signed two other orders — one placing a hiring freeze on some federal workers and the other reinstating a ban on funding for international groups that perform abortions.

The TPP, a giant and semi-secret 12-member free-trade agreement advocated by the Obama administration, aimed to deepen economic ties between the U.S. and 11 other Pacific Rim nations, cut taxes and foster trade to boost economic growth in the process.

“We’ve been talking about this for a long time,” Trump said, as he signed the document. He called the order to pull out of TPP a “great thing for the American worker.”

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Trump inauguration speech: ‘Protection will lead to great prosperity and strength’

Trump inauguration speech: ‘Protection will lead to great prosperity and strength’

President Donald J. Trump preached his populist and nationalist gospel in his first speech as the nation’s 45th chief of state, pledging an “America first” creed.

“The forgotten men and women of this country will be forgotten no longer,” the businessman and former reality television star said in front of the U.S. Capitol on Friday.
As raindrops fell on the crowd gathered on the National Mall, Trump said he planned to “transfer power from Washington, D.C.” to the people, taking swipes at longtime politicians, some of whom stood just over his shoulder. He told Americans that “you will never be ignored again,” repeating his campaign pledges to push companies to return jobs to the U.S. and to rebuild American infrastructure.

“We must protect our borders from the ravages of other countries making our products, stealing our companies, and destroying our jobs,” Trump said. “Protection will lead to great prosperity and strength. I will fight for you with every breath in my body and I will never ever let you down.”
Just before his address, Trump, 70, took the oath of office from Supreme Court Chief Justice John Roberts, capping a dizzying, chaotic rise to the White House. Wearing a red tie and speaking slowly with his left hand on two Bibles, Trump pledged to “preserve, protect and defend the Constitution of the United States.”

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Donald Trump’s Presidential Inauguration Live

Watch live: Donald Trump’s inauguration as 45th president of the United States

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It’s a historic day for America: Republican Donald Trump takes the oath of office Friday and becomes the 45th President of the United States. Official proceedings, which begin at noon ET on the West Lawn of the U.S. Capitol, will conclude with the new president’s inaugural address to the nation. USA TODAY will have ongoing live video and 360-degree streaming coverage throughout the day. You can watch it all live in the player below.