• U.S. President Donald Trump formally withdrew the United States from the Trans-Pacific Partnership trade deal on Monday, distancing America from its Asian allies, as China's influence in the region rises.
Fulfilling a campaign pledge to end American involvement in the 2015 pact, Trump signed an executive order in the Oval Office pulling the United States out of the 12-nation TPP.
The TPP accord, backed heavily by U.S. business, was negotiated by former Democratic President Barack Obama's administration but never approved by Congress.
Obama had framed TPP, which excluded China, as an effort to write Asia's trade rules before Beijing could, establishing U.S. economic leadership in the region as part of his "pivot to Asia."
• The ruling concerns the legal process by which Britain plans to exit the EU–not the decision to leave itself. The court could require Mrs. May to get parliamentary approval, meaning she would likely introduce a bill that would have to go Parliament. What that bill would look like depends on the ruling and what it requires, potentially giving the lawmakers, who were largely in favor of Britain’s continued EU membership, a say on the U.K.’s negotiation strategy.
• Oil climbed on Tuesday as a weaker U.S. dollar and production cuts announced by OPEC and other producers buoyed the market, but an increase in drilling activity in the United States is likely to keep a lid on prices.
Brent crude LCOc1, the international benchmark for oil prices, was up 38 cents, or 0.7 percent, at $55.61 a barrel by0741 GMT. U.S. West Texas Intermediate (WTI) crude futures CLc1 added 37 cents to $53.12 a barrel.
Reference: Reuters
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