Trump signs executive order to withdraw US from TPP

US President Donald Trump shows the Executive Order withdrawing the US from the Trans-Pacific Partnership (TPP) after signing it in the Oval Office of the White House in Washington, DC, USA, January 23, 2017. [Photo/IC]

WASHINGTON - US President Donald Trump on Monday signed an executive order to officially withdraw US from the Trans-Pacific Partnership (TPP) trade deal.

Trump called the move "a great thing for the American workers", local media reported. "We've been talking about this for a long time," Trump said as he signed the order.

The TPP, a free trade pact between 12 Asia-Pacific countries, was formally signed by ministers from these 12 countries in last February after more than five years' negotiation.

Trump's action on Monday was considered as a symbolic move, as the US Congress hasn't approved the deal yet. However, the move indicated that the new administration is actually shifting trade policies from previous US norms.

According to the trade strategy put forward by the Trump administration, the strategy starts by withdrawing from the TPP and renegotiating the North American Free Trade Agreement (NAFTA).