Trump threatened to pull out of the WTO

Trump threatened to pull out of the WTO

WASHINGTON, 30 Aug — RIA Novosti. The President of the United States Donald trump did not rule out that the country may withdraw from the world trade organization if it does not change for the better.


“If they do not improve their work, I get out of the WTO”, — said trump in an interview with Bloomberg.

According to him, the WTO with the United States “very bad” appeal for many years, and the organization needs “change”.

Ignoring the requirements of the WTO

In early July, the portal Axios announced that the administration of Donald trump plans to introduce in Congress a bill that would allow Washington to ignore the requirements of the WTO.

In the case of its adoption, the document gave the American President the right to claim duties on imports unilaterally, without congressional approval. It will also allow you to ignore the basic principles of trading organization. A source in the Congress said that the adoption of such a document is tantamount to a US withdrawal from the WTO.

The joint reform

Three weeks after the media publications trump held talks with European Commission President Jean-Claude Juncker. Following the meeting, the us President said that US and EU will work together to reform the world trade organization.

Trump also said that the US and the EU will deal with “dishonest actions” in trade, enumerating a long list of activities attributed to Washington’s China. While trump did not mention China directly.

We shared with each other and like-minded partners will work to reform the WTO and to tackle the problem of dishonest actions such as theft of intellectual property, forced technology transfer, industrial subsidies and distortion (on the market), created by the state companies and overstock.Donald Trepresent USA

In February, the U.S. leader called the WTO a “catastrophe” that makes it almost impossible to conduct business for the United States.” In particular, he said, “the U.S. is losing a lot of money in favor of Mexico and Canada”.