Why Trump is trying to sabotage US trade deal | WSJ
Posted On July 5, 2021
President Donald Trump’s administration has threatened to terminate a key U.S.-European trade deal if it does not meet his demands, raising the prospect that the United States could leave the landmark pact in jeopardy.
Key points:President Donald Trump has threatened that the U.K. could withdraw from the Transatlantic Trade and Investment Partnership if it fails to meet his trade demandsThe agreement, negotiated by the Obama administration, aims to open markets for goods and services across the Atlantic, including from the United KingdomTrump has said he will renegotiate the pact after the electionThe White House has not commented on the administration’s threat to withdraw from trade talks with the European Union.
Trump has threatened the withdrawal from trade negotiations with the EU if the U: does not meet the requirements of the Trans-Atlantic Trade and Industry Partnership (TTIP), a trade pact signed by former President Barack Obama in 2009.
The TTIP seeks to open more than 180 countries across the continent to U.N.-regulated international trade.
The U.W. is opposed to the agreement because of its provisions that would allow U. S. companies to sue foreign governments for the loss of intellectual property and to sue governments for enacting laws that affect their business.
President Donald J. Trump gestures as he speaks to the media at the White House in Washington, DC, U.C.I.A. Director Christopher Wray, left, talks with U.s.
Trade Representative Michael Froman, right, in the Oval Office of the White Senate in Washington.
The United States and the European countries that signed the deal are scheduled to begin negotiating a new pact on Wednesday.
The United States, the European nations, and other countries have sought to renegotiate a treaty that requires them to make a deal with the United Nations, the World Trade Organization, and the United Nation to prevent trade war and other disruptions.