United States President, Donald Trump fulfilled a promise from his campaign last year, by signing an executive order formally withdrawing the United States from the 12-nation Trans-Pacific Partnership trade deal on Monday.

The initial member states were the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru. The pact aims to deepen economic ties between these nations, slashing tariffs and fostering trade to boost growth.

In an Oval Office ceremony, Trump also signed an order imposing a federal hiring freeze and a directive banning U.S. non-governmental organizations receive federal funding from providing abortions abroad.

Meanwhile, Trump met with a dozen American manufacturers at the White House on Monday, pledging to slash regulations and cut corporate taxes, but warning them he would impose taxes on imports if they move production outside the country.

Trump, who took office on Friday, promised to bring manufacturing plants back to the United States - an issue he said helped him win the Nov. 8 election - and has not hesitated to call out by name companies that he thinks should bring outsourced production back home.

He asked the group of chief executives from companies including Ford, Dell Technologies, Tesla and others to make recommendations in 30 days to stimulate manufacturing, Dow Chemical CEO Andrew Liveris told reporters.