US President-elect Donald Trump has released a youtube video laying out actions he’ll take on his first day in office on January 20, including withdrawing the USA from a trans-Pacific Partnership trade deal, TTP.
Trump pledged to replace TTP with bilateral trade deals, which bring back bring jobs back to the USA.
To gain maximum leverage, Trump should to create a strong domestic market. American products made in America should supply the vast majority of Americans’ needs. By creating a powerful economic engine within America in the form of a domestic market, Trump will ensure jobs and prosperity return. With a strong domestic market, he will also have more leeway in negotiating good trade deals with other countries. And reasonsbly good bilateral trade relations with most of the globe is also in America’s interest to prevent a situation whereby China, for example, takes over other countries commercially.
To counter China, Trump could also use the gigantic amount of American debt that China controls. If Trump refuses to recognize Chinese debt or passes a law reducing it to a nominal sum, China may well be brought to the edge of bankruptcy, and be unable to raise funds on international markets to pay for imports.
Globalist journalist Eric Frey has an disingenuous commentary on Trump’s move, well worth reading between the lines.