Excerpt from Business Insider
Written by Dana Varinsky
In his first address since his victory speech — a two-and-a-half minute YouTube video posted November 21 — President-elect Donald Trump dove right into the issue of trade.
On his first day in office, Trump said, he plans to “issue a notification of intent to withdraw from the Trans-Pacific Partnership, a disaster for our country.”
Free trade teals like the TPP and North American Free Trade Agreement (NAFTA) played a prominent role in Trump’s campaign message. Though the TPP is not yet in effect, Trump has consistently blamed NAFTA and other trade deals for shipping too many jobs overseas and hurting the US economy.
Although there is broad support for increasing US manufacturing power overall, goods made in the US are inevitably more expensive than those created in countries where labor is cheaper, such as China, Vietnam, and Mexico. If the production of popular items like iPhones and sneakers were done domestically rather than abroad, their prices would increase considerably.