Economy

Trump wants US to withdraw from WTO

Trump wants US to withdraw from WTO”

According to a report by Axios, quoting people involved in the talks, the US President Trump has repeatedly told top White House officials he wants to withdraw the United States from the World Trade Organization.

President Donald Trump has repeatedly suggested pulling the U.S. out of the World Trade Organization, according to a report published Friday by the news website Axios. "Not at this point".

He added that "it was fair to say" Trump has "grown frustrated" with the WTO, which regulates global trade agreements, as per the report. They tariffs have also led to retaliation by US allies, including Canada and the European Union.

Last Friday, the United States told the Geneva-based WTO that appeals rulings in trade disputes could be vetoed if they took longer than the allowed 90 days.

Trump has imposed tariffs on imports of aluminum and steel earlier this year that has triggered new trade suits that will be considered by WTO panels.

Navarro also pushed back against criticism of Trump's tariffs on steel and aluminium imports from U.S. companies including GM and motorcycle maker Harley-Davidson Inc., calling it "smoke and mirrors".

In Geneva, WTO spokesman Keith Rockwell said no one from the USA government had indicated to officials "in the Secretariat that they have any intention of leaving the organization".

CNN has reached out to the White House for comment.

"I think that the president's expressed frustrations with global organizations from a sovereignty perspective, but I think that the president also believes that there are extensive tariffs assessed on American products overseas that's not a reciprocal tariff", Short further said. "That it's not a reciprocal tariff".

European Union leaders on Thursday agreed "in substance" with proposals to improve the WTO in what appeared to be an effort to placate the US President. "If you want to change it you have to make serious proposals, but you don't just walk away", he said.

Trump could make a symbolic move, notifying the WTO of U.S. intentions to withdraw, but Congress would need to be involved to make such a move official.

The president is considering the imposition of tariffs on vehicle imports, a move that would be sure to draw new litigation in the WTO. "We have not been treated fairly".

"Congress would not accept that", said Bill Reinsch, senior adviser at the Center for Strategic and International Studies in Washington. "They are very well aware how it has benefited the US When we file a complaint, we generally win".

The trade representative accused the "European Union and its followers" of retaliating "with tariffs created to punish US companies and workers".



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