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Briefing
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- End of Trans-Pacific Partnership – President Trump signed end of Trans-Pacific Partnership (TPP), pioneered by predecessor President Barack Obama, at first week in office, putting to potential close U.S. participation in multilateral trade agreements, in favor of individual deals
- Background – TPP would have linked dozen nations in North America, Latin America, Asia, and Australia, collectively comprising 40% of global economy, in tariff-loose trade agreement, which would have strengthened America’s standing and leadership in region, upending China according to proponents, but criticized to be propagator for lost jobs in U.S.
- Trump's America First Stand – Trump bucked long standing Democratic and Republican stance of free global trade, and decided to put America first versus foreign competition, aiming to bring companies and jobs back to U.S.
- China Substitutes U.S. – Some members of both parties expressed concern that China will step in to fill role U.S. left
- New China-Centric Trade Agreement – New pact called Regional Comprehensive Economic Partnership will unite China with 10 members of Association of Southeast Asian Nations (ASEAN) as well as Japan, South Korea, Australia, New Zealand and India, cementing its role in what could be world's largest trade zone
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