Trump shakes up trade agreements

Patrick Budicini
Business Correspondent

Tuesday, Nov. 8, 2016. A day that will likely go down as one of the most shocking days in United States political history. It is the day that Donald J. Trump overcame all odds, defeating the clear favorite, Hillary Clinton.

A grueling 17-month campaign, which included Trump overcoming over 15 strong republican candidates, most notably Texas Senator, Ted Cruz and Florida Senator, Marco Rubio, finally came to an end at around 3 a.m. on Nov. 9.

Ever since the business tycoon and television star joined the race, political analysts and U.S. citizens alike questioned what kind of credibility he even has that would make him a viable option for president. Along with this has come tireless questioning and speculating about what exactly his policies will be and who he will surround himself with in his cabinet.

Throughout much of the campaign, Trump made many claims about what he will do with trade, and how he is going to boost America’s economy.

He, along with many major U.S. corporations, were disgruntled by the anti-business stigma associated with the Obama administration, which included high corporate taxes and led to the exodus of major companies such as Burger King and Medtronic.

Both companies moved global headquarters elsewhere to help reduce its tax bill in the U.S., CNBC reported.

Soon after inauguration day, he began developing his “America First Trade Policy” along with the U.S. Trade Representative, Robert Lighthizer. This policy is built on the idea that it will entice companies to stay in America, create jobs here, pay taxes here and be an active part of rebuilding our economy, per The Office of the United States Trade Representative website.

Trump understands the number of jobs that can be created if corporations stay in America, as opposed to moving offshore seeking lower taxes and cheaper labor.

One of the Trump administration’s first moves toward the implementation of the America First policy is the withdrawal from the Trans-Pacific Partnership, which is a 12-nation trade deal negotiated by President Obama.

This trade agreement with countries such as Mexico, Peru and Vietnam was intended to promote economic growth in the United States and across the Asia-Pacific region.

After signing an executive order on his first day in office stating declaring the United States’ withdrawal from the agreement, he received praise from Vermont Senator, Bernie Sanders, who said: “Now is the time to develop a new trade policy that helps working families, not just multi-national corporations,” CNN reported.

Trump claims that one of the main reasons for backing out of the TPP is that it will protect American workers from competition from low wage countries such as Vietnam and Malaysia, according to the New York Times. In addition to leaving the Trans-Pacific Partnership, Trump also plans to renegotiate the North American Free Trade agreement because it has become very divisive and has led to lower wages and lost jobs.

Trump is focused on putting America first. He wants to rebuild the middle class by bringing jobs back to America and keeping American companies from leaving in the first place.

People all over America are eagerly waiting to see how successful these protectionist measures will be.

One Response to Trump shakes up trade agreements

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