Donald Trump barely spent a week in his new presidential office, but he has already put efforts to dismantle the legacy of his predecessor. The main trading project arranged by Barack Obama, the Trans-Pacific Partnership (TPP), was the first to fell into Trump’s hands, regardless of the fact that the previous administration worked long and hard to bring the TPP to life.
The new US president unilaterally decided to leave the partnership. During his campaign trail, the Republican repeatedly stated that the United States has much more to lose than gain from the TPP. The new president without any hesitation moved from words to deeds, and, according to Trump’s administration, he will not stop at TPP. Trump believes that Obama had not paid enough attention to economic issues, and the US economy considerably slowed down during his presidential term. Meanwhile, the “genius economist” is seems to have forgotten that Obama took office in the midst of the global financial crisis and not only brought the US out of a steep economic plunge but also achieved a steady growth. However, populists like Trump usually do not care about such achievements, they are only interested in loud statements and beautiful promises. That’s why, Trump presented abolition of Obama’s projects as an end of irrational budget use.
The Trans-Pacific partnership has become the first victim of the new presidential policy. The TPP is supposed to be a free trade zone between the 12 countries in the Asia-Pacific region, which form about 40 percent of the global GDP.
