The Obama Administration is reportedly abandoning the Trans-Pacific Partnership following President-elect Donald Trump’s victory in the Nov. 8 election.
The White House hoped to push the TPP forward in a Hillary Clinton presidency. However, Obama has opted to stop the push to pass the trade deal after her loss in the election, The Wall Street Journal reports, according to Breitbart.
The TPP has face opposition from government officials on the right and left.
Sen. Bernie Sanders of Vermont criticized the trade deal on the campaign trail during the democratic primaries. He and many others voiced concerns that unionized workers in America would not be able to compete with low wage work overseas. Conservatives also opposed the deal in part because of mistrust in President Obama’s foreign affairs.
Trump vocally opposed the TPP throughout his campaign, calling it a “disaster” that would lead to U.S. workers losing jobs to workers in other countries.
Following Trump’s victory in the presidential election, the Obama administration made the decision to give up on trying to pass the bill, according to Jared Bernstein, a former economic adviser to Vice President Joe Biden.
“Various credible sources tell me that Obama will NOT try to pass the TPP in lame duck,” Berstein wrote on Twitter. “Not unexpected, but there it is…”
Sources: CNBC, Breitbart / Photo Credit: Pete Souza via The White House/Flickr