The opposition contended[28] that the trade pact would hinder the competency of SMEs, which encompassed 97.73 percent of total enterprises in Taiwan in 2016.[29] The TPP, on the other hand, still presents an opportunity for Taiwan. After the APEC economic leaders' meeting in November 2017, President Tsai expressed deep support for the advancements made regarding the TPP[30] – given that U.S. President Donald Trump pulled out of the trade deal earlier in the year.[31] President Tsai has also promoted the "New Southbound Policy", mirroring the "go south" policies upheld by former presidents Lee Teng-hui in 1993 and Chen Shui-Bian in 2002, focusing on partners in the Asia-Pacific region such as the Association of Southeast Asian Nations (ASEAN), Australia and New Zealand.[32]