US officially withdraws from TPP

On his first day of “real work”, US President Donald Trump signed an executive order withdrawing the US from the Trans-Pacific Partnership Agreement (TPP).

Mr. Trump once called TPP a “potential disaster” that would cause many Americans to lose their jobs and said that signing the decree was “a great thing for American workers,” according to Reuters.

However, it is still unclear whether Mr. Trump intends to sign bilateral deals with the other 11 countries that have signed the TPP.

Earlier that day, Mr. Trump had breakfast at the White House with leaders of leading domestic corporations such as Ford, Dow Chemical, Dell, Tesla... According to Reuters, Mr. Trump pledged to reduce corporate tax rates to between 15-25% from the current 35%.

US President Donald Trump signed an executive order withdrawing the US from the TPP, January 23, 2017. (Photo: Reuters).

He also promised to cut at least 75% of related regulations according to the wishes of businesses. “When you want to expand your factory, or when Mark (Mark Fields, CEO of Ford) wants to build a large-scale factory or Dell wants to do something big and special, you will get approval very quickly,” Mr. Trump promised.

Meanwhile, Mr. Trump threatened that American businesses wanting to build factories abroad would have to pay the price because the US would sharply increase import taxes.

“A company that wants to fire all of its workers in the United States and build a factory in another country and then ship the product back to the United States — that’s not going to happen,” President Trump stressed.

Also on January 23, President Donald Trump had a phone call with Egyptian President Abdel-Fattah el-Sissi, but the content of the conversation has not been released.

He also announced his intention to choose Heather Wilson, a former New Mexico state legislator and principal of the South Dakota School of Mines and Technology, as Secretary of the Air Force./.

According to VOV