Trump signs executive order withdrawing US from TPP deal

Making good on a campaign promise, US President Trump on Monday signed an executive order withdrawing the United States from the controversial Trans-Pacific Partnership trade deal, Fox News reported.

He also signed two other orders -- one placing a hiring freeze on some federal workers and the other reinstating a ban on funding for international groups that perform abortions.

The TPP, a giant and semi-secret 12-member free-trade agreement advocated by the Obama administration, aimed to deepen economic ties between the US and 11 other Pacific Rim nations, cut taxes and foster trade to boost economic growth in the process. 

"We’ve been talking about this for a long time," Trump said, as he signed the document. He called the order to pull out of TPP a “great thing for the American worker.”

Trump argued on the campaign trail that the TPP is harmful to US workers and robs the manufacturing sector.

Supporters of TTP said it would have been a boon for all 12 nations involved and would unlock business opportunities on a global scale. Opponents argued, among other things, it would encourage exporting US jobs to low-wage nations. 

Trade has been the rare issue where Trump and labor unions have found common ground.