Yesterday President Donald Trump signed an executive order withdrawing America's intent to sign the Trans-Pacific Partnership (TPP). This trade deal, involving a dozen countries in Asia as well as North and South America, was intended to create a broader Pacific Rim marketplace; however, it has also become a political flashpoint.
During the 2016 election. both Trump and Hillary Clinton came out against the treaty, with Trump vowing to pull America out of the deal upon taking office.
But now that he has followed through, who will be the winners and the losers from America's decision to jump ship?
Short Term: No One
In the next year or two, no one will feel the loss of the Trans-Pacific Partnership.
This was a deal designed around a generational time frame, aimed primarily at establishing a broad marketplace and building American access to both closed off markets like Japan and still-emerging economies like Vietnam, Malaysia and Peru.
It contained relatively few major changes to the way countries do business but instead codified a set of "rules of the road" intended to make trade easier.
"I don't think there's going to be any big, immediate, tangible impact from the TPP not being ratified by the United States," said J. Bradford Jensen, a professor of international business with Georgetown's McDonough School of Business. "The way I think of TPP is that it was a long run bet to try to both pry open service markets in places like Japan and Malaysia, and also a long run bet to have a large, very robust rules-based trading system in the Asian Pacific region, that would be a strong enough pull for China and possibly India to join on those very strong, rules based terms"