Trump Likely to Fix TPP Instead of Scrapping It - AmCham Russia

New US leader Donald Trump is likely to fix the Trans-Pacific Partnership and hold long negotiations rather than scrap the deal, the head of the American Chamber of Commerce in Russia said.

MOSCOW (Sputnik) — US President-elect Donald Trump will correct the US foreign trade policy instead of complete overhaul and scrapping of the Trans-Pacific Partnership (TPP), the head of the American Chamber of Commerce in Russia (AmCham) told Sputnik.

"I expect Trump's overseas trade policy to be more of a shift rather than an abrupt departure… He [Trump] will say, 'The agreement was bad, but my people will come and fix everything," and long negotiations will begin," Alexis Rodzianko said.

Rodzianko noted that Europe's opposition to the TPP had always been stronger than the resistance in the United States.

"There were problems, anyway, negotiations that, apparently, will continue but will lag. Trump may be opposed to it [TPP] to a lesser extent than the European Union," Rodzianko said.

During his campaign, Trump had promised to withdraw from TPP as the agreement might lead to the loss of manufacturing jobs in the United States.

The TPP seeks to remove barriers to trade among its 12 signatories, which together account for 40 percent of the world's economy: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.