Sunday, 18 November, 2018

Trump warns that he could pull the U.S. out of WTO

President Donald Trump nixed a European Union proposal that would end tariffs on automobiles and warned the United States could withdraw from the World Trade Organization if the global dispute resolution body does not Trump threatens to pull out of WTO 'if they don't shape up' | TheHill
Rhonda Young | 31 August, 2018, 18:10

US President Donald Trump said in an interview on Thursday that he was thinking about pulling the United States out of the World Trade Organization if "they don't shape up".

A USA withdrawal from the WTO would severely undermine the multilateral trading system that the United States helped to build.

"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.

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He averaged 9.3 points last season and has two years left on a four-year, $80 million contract he signed with the Rockets in 2016. De'Anthony Melton was also sent to Phoenix in exchange for Marquese Chriss and Brandon Knight .

Unnerving global markets by reviving fears of a spiralling global trade war, Mr Trump indicated that he was likely to impose tariffs on additional Chinese exports worth $200 billion within days.

China, which is now embroiled in a trade war with the US, joined the WTO in 2001 - a move which US Trade Representative Robert Lighthizer has described as a mistake. In 2017, Trump told Fox News: "The WTO was set up to benefit everybody but us We lose the lawsuits, nearly all of the lawsuits in the WTO".

It is unclear whether Trump would be able to withdraw the United States from the WTO without congressional approval. The US has been blocking the appointment of judges to the WTO's appeals body, raising the possibility that it could cease to function in the coming years.

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Mr Trump said the USA had been treated "very badly" by the organisation.

For all of his complaints about the WTO, Mr Trump's administration has continued to file cases against other members.

Just hours earlier, the EU Trade Commissioner Cecilia Malmström had said the bloc was "willing to bring down... our auto tariffs to zero" provided that the United States did the same. "But the WTO is in for a very large shock if it actually has to agree a new set of rules".

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