Trump signs executive order to withdraw us from TPP / 川普簽署行政命令 宣布美國退出TPP　　　　　　　　　　

The Trans-Pacific Partnership, which the United States signed but did not ratify, was the main economic pillar of the Obama administration's "pivot" to Asia policy in the face of a fast-rising China. Congress had not yet approved the TPP and its future was anyway uncertain due to the balance of party numbers. However, it had signaled an outward-looking stance rather than the protectionist Republican party stance. Thus, on Jan. 23, President Donald Trump signed an executive order on formally withdrawing the United States from the 12-nation Trans-Pacific Partnership trade deal, following through on a promise from his campaign last year. ==DONALD TRUMP US President== Great thing for the American worker, what we just did. European stocks and bond yields dropped after the President's action, and the dollar hit a six-week low. Trump's protectionist speech pushed a nervous stock market into safe-haven assets. ==CHRIS BEAUCHAMP IG MARKET ANALYST== And that's the key worry I think. The shift away from open market liberal order that's dominated for so long. It could be that markets react more out of U.S. hours than in U.S. trading hours. So we look for some sort of recovery in U.S. markets this afternoon, once things have settled down. But certainly, it will be a volatile few days. World stocks hit highs earlier this month on expectations Trump would boost growth and inflation with his fiscal spending measures. Sadayuki Sakakibara, the head of Japan's biggest business association, Keidanren, expressed concern over Trump's trade protectionism. ==SADAYUKI SAKAKIBARA HEAD OF JAPAN'S BUSINESS LOBBY KEIDANREN== I believe TPP trade pact has yet to die completely, so we'd like to appeal to the strategic and economic importance of the TPP trade pact along with the other 11 countries in order to achieve it. The TPP which included Canada and Mexico, as well as Pacific Rim countries, would have slashed tariffs for American imports and exports with those countries. In exchange, the United States had negotiated labor, environmental and intellectual property protections that major businesses sought. Critics complained that it didn't directly address the issue of currency manipulation. Trump's view is that despite new technology, rising wages and increasing business globalization, traditional manufacturing and low-skill jobs will return to the United States. TRANSLATED BY：CLARE LEAR