Donald Trump commits to take US out of TPP trade deal

 
Helen Cahill
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Donald Trump has talked in more detail about his policy agenda (Source: Getty)

President-elect Donald Trump has said he will scrap America's involvement in the Trans-Pacific Partnership (TPP) trade deal on his first day in office.

In a video message to Americans, he outlined some of the actions he will be taking on his first day in the White House.

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The TPP deal was agreed by 12 countries in 2015, including the US, Japan, Malaysia, New Zealand and Mexico, but it has not been ratified by the individual participants.

The deal was intended to reduce trading tariffs between nations, and enforce various labour and environmental standards. However, critics of the agreement have said the negotiations were secretive and that it favoured large, multinational companies.

In his statement, Trump said: "On trade, I am going to issue a notification of intent to withdraw from the Trans-Pacific Partnership - a potential disaster for our country.

"Instead, we will negotiate fair bilateral trade deals that bring jobs and industry back onto American shores."

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During the campaign, Trump promised to "take back control" of the US economy. He did not go into huge amounts of detail, but his dislike for the TPP was clear. In June 2016 he said it was "another disaster done and pushed by special interests who want to rape our country, just a continuing rape of our country".

He also talked about energy in his video statement, saying he will cancel "job-killing restrictions" on American production.

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