World

US withdraws from Trans-Pacific Partnership deal

US President Donald Trump signed a decree to withdraw his country from the Trans-Pacific Partnership (TPP) trade deal on his first official working day in the White House on January 23.
US withdraws from Trans-Pacific Partnership deal ảnh 1US President Donald Trump (Source:http://arstechnica.com)
Hanoi (VNA) - US President Donald Trump signed a decree to withdraw hiscountry from the Trans-Pacific Partnership (TPP) trade deal on his firstofficial working day in the White House on January 23.

Trump said the TPP, which grouped the US and 11 economic partners in AsiaPacific, will harm manufacturing and production in the US, and deprive US citizensof jobs.

The deal had been discussed since 2009, during the presidency of Barack Obama,but the US Congress never ratified the agreement, and many legislators opposedit, or expressed doubts about its profitability.

TPP negotiations concluded in October 2015. It is waiting forapproval of member nations’ parliaments. Many TPP member countries areconsidering signing the deal without the involvement of the US.

If the original agreement, including the US, had come intoforce it would have been thelargest regional trade agreement in history, covering 40 percent of the worldeconomy.

The11 TPP members are Australia, Brunei, Canada,Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.-VNA

VNA
# Donald Trump#US#withdraw#TPP
Follow VietnamPlus

Related News

Malaysia looks into bilateral FTAs with TPP members

Malaysia looks into bilateral FTAs with TPP members

Malaysia may study the possibility of pursuing bilateral free trade agreements (FTAs) with Trans-Pacific Partnership (TPP) member countries if the pact fails to be enforced, Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said on January 21.

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.