26 Jan What Will Happen After Trump Nixes TPP?
Matt Priest, president and CEO of the FDRA, said in November that his organization believes that the nixing of the TPP could be the end of an unprecedented opportunity to not only lower production expenses but also slash end costs to consumers and create more American jobs — something that Trump also campaigned on.
“We had a once-in-a-generation opportunity within our grasp. We had a Republican Congress and a Democratic president who wanted to pursue this,” Priest said. “We had a half a billion dollars in savings during year one and $6 billion in duty savings over a decade — those are big numbers, and they mean a lot.”
TPP supporters also believe the deal’s demise signals a new opportunity for China to strengthen its influence — something it is already aggressively pursuing via its Regional Comprehensive Economic Partnership (RCEP), which notably excludes the U.S., as the TPP excluded China.