In its headline, it linked to The New York Times article by Peter Baker. That presents the possible negatives associated with the new president's killing off the Trans-Pacific Partnership (T.P.P.). Here you can read that analysis by the liberal Times.
T.P.P., which had not been yet approved by Congress, would affect about 40% of worldwide trade. Its mission was to reduce or eliminate impediments to free trade among the 12 nations. The typical obstacles, of course, are tariffs and regulations.
With the U.S. out of the partnership, some contend, that turns the playing field in global trade over to China. Ironically, part of President Trump's mission is to tame China. His hope is that if there is less outsourcing to China, there would be more work for those in the U.S. However, there could be a backlash.
A strengthened China can put the kibosh on myriad exports from the U.S. The tactics could range from an outright ban to high tariffs.
Many have read how the protectionist Smoot-Hawley Tariff Act of 1930 triggered a backlash among America's trading partners. It is estimated that it reduced U.S. exports by about a half during The Great Depression.
Obviously, some are afraid that a push-back by the other 11 members of T.P.P. could generate a severe financial downturn in the U.S.
As yet, much of American business hasn't recovered fully from The Great Recession. One wonders if it can absorb another hard blow?
Among Republicans, U.S. Senator John McCain was critical of the T.P.P. decision. Here is his statement.
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