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U.S. Pulls out of TPP

Trump signs an executive order withdrawing U.S. from the Trans-Pacific Partnership.

By Toluse Olorunnipa, Shannon Pettypiece, and Matt Townsend, Bloomberg | Updated on January 23, 2017

With the stroke of a pen, President Donald Trump abruptly ended the decades-old U.S. tilt toward free trade by signing an executive order to withdraw from an Asia-Pacific accord that had been promoted by companies including Nike Inc. and Wal-Mart Stores Inc. as well as family farmers and ranchers.

“Great thing for the American worker, what we just did,” Trump said on Monday after signing an order withdrawing the U.S. from the Trans-Pacific Partnership (TPP) accord with 11 other nations. He didn’t take any step to initiate a renegotiation of the NAFTA deal with Mexico and Canada, but an aide, who spoke on condition of anonymity, said action on the accord is still in the works.

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