"Pulling out of the deal ‘raises fundamental questions about American reliability,’ said Richard Haass, president of the Council on Foreign Relations. ‘It leaves our allies and trading partners in the lurch. It does create strategic opportunities for China.’
Those include Beijing’s own regional trade agreement, which it is pursuing with 15 other Asian countries, including Japan. An analysis by White House economists under Obama found that a deal between just China and Japan could jeopardize $5 billion in U.S. exports and millions of American jobs. Proponents of the TPP have also pointed to recent reports of Beijing’s weapons buildup on islands in the South China Sea as evidence of the country’s emboldened posture.
Sen. John McCain (R-Ariz.) echoed those concerns Monday, calling Trump’s withdrawal from the TPP a ‘serious mistake’ that will give China greater authority to dictate the terms of international trade."
(Via.). Withdrawal from Trans-Pacific Partnership shifts U.S. role in world economy - The Washington Post:
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