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Trump withdrew US from TPP deal

Trump withdrew US from TPP dealUS President Donald Trump formally withdrew the United States from the Trans-Pacific Partnership trade deal on Monday.

American leader Trump signed an executive order in the Oval Office pulling the United States out of the 12-nation TPP.

The move comes as Trump wants to boost US manufacturing and he said he he would seek one-on-one trade deals with countries that would allow the United States to quickly terminate them in 30 days "if somebody misbehaves."

"We're going to stop the ridiculous trade deals that have taken everybody out of our country and taken companies out of our country," the Republican president said as he met with union leaders in the White House's Roosevelt Room.

The TPP accord, backed heavily by US business, was negotiated by former Democratic President Barack Obama's administration but never approved by Congress.

Trump is also working to renegotiate the North American Free Trade Agreement to provide more favourable terms to the United States, telling reporters he would meet leaders of NAFTA partners Mexico and Canada to get the process started.
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