President Donald Trump withdrew the United States from the 12-nation Pacific Rim trade deal

President Donald Trump withdrew the United States from the 12-nation Pacific Rim trade deal on Monday as he started his first full week in office. At the White House, Trump called it a "great thing for the American worker - what we just did."

The new president, as past Republican chief executives have done, also signed an order reinstating a ban on providing government funds to international groups that perform abortions or provide information about the procedure. In addition, Trump, honoring a campaign pledge, froze hiring for many federal agencies as a way to reduce the cost of government and rein in its growth.

The trade deal, known as the Trans-Pacific Partnership, had been negotiated since 2009 during former President Barack Obama's White House tenure, but the U.S. Congress never ratified it, with numerous lawmakers opposed to or skeptical of the deal. It would have covered trade with Japan, Australia, New Zealand, Malaysia, Chile, Canada, Mexico and four other countries.

White House spokesman Sean Spicer told reporters that as Trump "has said many times, this type of multinational agreement is not in our best interest, and he`s moving quickly to advance trade policies that increase the competitiveness of the American worker and manufacturer."

Spicer said the new president would pursue bilateral trade agreements with individual countries throughout the world.

The TPP would have been the biggest regional trade deal in history, covering nearly 40 percent of the world's economy and about a third of world trade. China didn't take part in the talks, but appears ready to step into the vacuum and create its own deals with Southeast Asian countries that would have been part of the 12-nation agreement.

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