President Donald Trump signalled he would put protectionism at the heart of economic policy, withdrawing the US from a historic Pacific trade pact and threatening to punish companies for moving production overseas on his first working day in office.
Mr Trump said pulling out of the 12-nation Trans-Pacific Partnership, a signature initiative of predecessor Barack Obama’s “pivot” to Asia, was a “great thing for the American worker”.
His signing of the TPP executive order came shortly after he warned a White House gathering of US business executives that he would place a “very major” border tax on companies that moved production overseas and exported products back into the country.
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