A presidential memorandum has the equivalent force of law as a more common executive order. – Trump Wastes No Time Rolls Out Three Presidential Memorandums
Trump Wastes No Time Rolls Out Three Presidential Memorandums
Newly inaugurated Donald Trump opened his first full week with a Monday morning signing of three presidential memorandums.
A presidential memorandum has the equivalent force of law as a more common executive order. It is effectively an Executive Order by another name.
The orders focus on:
• The Trans-Pacific Partnership (TPP)
• A Freeze On Federal Hiring Of non-Military Personnel
• Ending Federal Funding For Foreign Organizations That Provide Abortions
The TPP memorandum fulfills one of Trump’s core campaign promises: Abandoning the Pacific Rim trade agreement. The memorandum announces the United States’ intention to withdraw from the Trans-Pacific Partnership (TPP) trade deal.
U.S. Trade Representative Robert Lighthizer, Commerce Secretary nominee Wilbur Ross, and the head of the White House Trade Council Peter Navarro are likely to head up negotiations on new trade agreements.
Former Presidential candidate Senator Bernie Sanders (I) of Vermont was onboard with the end to TPP:
“I am glad the Trans-Pacific Partnership is dead and gone. NNow is the time to develop a new trade policy that helps working families, not just multi-national corporations. If President Trump is serious about a new policy to help American workers then I would be delighted to work with him.”
Withdrawing from the deal will unwind over a decade of international trade efforts while generating uncertainty into Asia and Pacific Rim trading relationships
As expected, Senator John McCain (R) of Arizona was against the order, saying:
“… a serious mistake that will have lasting consequences for America’s economy and our strategic position in the Asia-Pacific region. It will create an opening for China to rewrite the economic rules of the road at the expense of American workers. And it will send a troubling signal of American disengagement in the Asia-Pacific region at a time we can least afford it.”
The North American Free Trade Agreement (NAFTA) with Canada and Mexico is likely the next target on Trump’s Trump is trade renegotiate agenda.
Trump’s first executive action last week was the cancellation Obama’s mortgage premium cuts. The U.S. Department of Housing and Urban Development provided letters to real estate brokers, closing agents/companies and mortgage lenders suspending the 0.25 percentage point premium rate cut for Federal Housing Administration-backed loans.
On Friday, the evening of his inauguration, President Trump spent the evening ordering all federal departments and agencies to find ways to ease the economic burden of President Obama’s health care plan as Congress works to repeal …. and replace it.
Clearly, Trump is exercising the administrative power of his office to rapidly begin fulfilling some of his campaign pledges.