Barack Obama abandons the Trans-Pacific Partnership
The early repercussions of the Trump regime are already being felt as tonight the Wall Street Journal is reporting that Barack Obama is abandoning the Trans-Pacific Partnership. Here is more:
Donald Trump’s victory in Tuesday’s presidential election has prompted President Barack Obama to abandon the Trans-Pacific Partnership (TPP) trade agreement, the Wall Street Journal reported late Friday.
According to the Journal, the White House had hoped to push the deal forward in the lame-duck session of Congress, assuming Democratic presidential nominee Hillary Clinton had won the election. Her loss has already changed the political landscape:
Just days after Donald Trump surprise victory, U.S. officials said Republican congressional leaders had made clear that they wouldn’t consider the 12-nation Trans-Pacific Partnership in the remainder of Mr. Obama’s term. The White House had lobbied hard for months in the hope of moving forward on the pact if the Democratic nominee, Hillary Clinton, had won.
The TPP is an interesting story because it was drawing mixed reviews on both sides of the aisle however a majority of Republicans in the Congress apparently supported it because Barack Obama was granted fast-track authority to negotiate the deal in private. Yet prominent Democrats such as Elizabeth Warren and Bernie Sanders opposed the deal. The voters were also spit on this issue.
Barack Obama had planned to push the deal through in the lame-duck session under the assumption Hillary Clinton–who has flip-flopped on this deal so often that we really did not know where she stood–was going to be the President-elect at this time. With Donald Trump’s opposition to the deal Barack Obama has come to the conclusion that his opportunity to pass the TPP has gone by the wayside.
I was not a supporter of Donald Trump but I have to admit this is off to a good start.
malo periculosam libertatem quam quietum servitium