Trump threatens to pull US out of WTO

Trump threatens to pull US out of WTO

Published
Hot News
2 min read
U.S. President Donald Trump. (File Photo: IANS/Xinhua)
Washington, Aug 31 (IANS) President Donald Trump has threatened to withdraw the US from the World Trade Organisation (WTO) if the body fails to change the way it treats America.
"If they don't shape up, I would withdraw from the WTO," the BBC quoted Trump as saying in an interview with Bloomberg News on Friday.
The WTO was established to provide rules for global trade and resolve disputes between countries. However, Trump, who has been pushing protectionist policies, says the US is treated unfairly by the body, the BBC reported.
His warning about a possible US pull-out from the organisation highlights the conflict between the president's trade policies and the open trade system that the WTO oversees.
Washington has also blocked the election of new judges to the WTO's dispute settlement system, to potentially paralyse its ability to issue judgments.
Trump has been sounding off about unfair trade since even before he became president. In 2017, Trump told Fox News: "The WTO was set up to benefit everybody but us… We lose the lawsuits, almost all of the lawsuits in the WTO."
The US has been embroiled in a tit-for-tat trade battle on several fronts in recent months. The one creating the most interest is the one with China, as the world's two largest economies wrangle for global influence.
Trump has introduced tariffs on a number of goods imported into the US.
A third round of tariffs on $200 billion of Chinese goods could come as soon as a public-comment period concludes next week, the BBC quoted a report as saying.
Asked to confirm this during his interview, Trump said that it was "not totally wrong", the BBC quoted him as saying.
China's commerce ministry has said it "clearly suspects" the US of violating WTO rules.
An initial complaint at the WTO was filed by China in July after Trump imposed his first round of tariffs.
The WTO, which was set up in 1994, is at the heart of the system of rules for international trade. It is the forum for sorting disputes between countries about breaches of global trade rules and it is the forum for negotiating new trade liberalisation.
--IANS
in/

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

Liked this story? We'll send you more. Subscribe to The Quint's newsletter and get selected stories delivered to your inbox every day. Click to get started.

The Quint is available on Telegram & WhatsApp too, click to join.

Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!