US Formally Withdraws From TPP
The Office of the U.S. Trade Representative on Jan. 30 sent a letter to all signatories to the Trans-Pacific Partnership and the TPP depositary, formally withdrawing the U.S. from the agreement, USTR said (here). “This letter is to inform you…
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that the United States does not intend to become a party to the Trans-Pacific Partnership Agreement. Accordingly, the United States has no legal obligations arising from its signature on February 4, 2016,” Acting U.S. Trade Representative Maria Pagan said in the letter (here) to the Ministry of Foreign Affairs and Trade in New Zealand, which serves as the TPP depositary. The U.S. "remains committed to taking measures designed to promote more efficient markets and higher levels of economic growth, both in our country and around the world. We look forward to further discussions as to how to achieve these goals.” President Donald Trump issued an executive order on Jan. 23 that instructed the USTR to withdraw from the deal (see 1701230041).