Close X
Thursday, November 28, 2024
ADVT 
National

Donald Trump Threatens To Pull US Out Of WTO

The Canadian Press, 31 Aug, 2018 02:27 PM
    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.

    MORE National ARTICLES

    Burning Surrey Barge Loaded With Crushed Cars Sends Pall Of Smoke Over Metro Vancouver

    Burning Surrey Barge Loaded With Crushed Cars Sends Pall Of Smoke Over Metro Vancouver
    Firefighters Are Attacking A Massive Blaze That Broke Out On A Barge Full Of Crushed Cars Friday Morning.

    Burning Surrey Barge Loaded With Crushed Cars Sends Pall Of Smoke Over Metro Vancouver

    Vancouver Police Say Road Rage Thought To Be Behind 14th Homicide Of 2018

    Vancouver Police Say Road Rage Thought To Be Behind 14th Homicide Of 2018
    Vancouver police say a road rage attack appears to be at the centre of a death early Friday morning.

    Vancouver Police Say Road Rage Thought To Be Behind 14th Homicide Of 2018

    Fredericton Shooting: Police Say Four Dead, Including Two Officers, Suspect In Custody

    Fredericton Shooting: Police Say Four Dead, Including Two Officers, Suspect In Custody
    Fredericton police say two officers were among four people who died in a shooting Friday morning in a residential area on the city's north side.

    Fredericton Shooting: Police Say Four Dead, Including Two Officers, Suspect In Custody

    Bad Drivers To Pay More In B.C. Under New ICBC Plan

    Bad Drivers To Pay More In B.C. Under New ICBC Plan
    The provincial government introduced the changes to the way premiums are calculated in a plan to shift more responsibility to those drivers who cause crashes.

    Bad Drivers To Pay More In B.C. Under New ICBC Plan

    Canada Still Seeking Clarity From Saudi Arabia On Diplomatic Dispute

    Canada Still Seeking Clarity From Saudi Arabia On Diplomatic Dispute
    A federal official says Canada remains unclear about the measures Saudi Arabia is taking in response to Canadian criticism of its human rights policies.

    Canada Still Seeking Clarity From Saudi Arabia On Diplomatic Dispute

    Big Credit Card Firms Agree To Cut Fees They Charge Merchants: Source

    The federal government is announcing today that major credit card companies have agreed to lower the fees they charge the country's businesses.

    Big Credit Card Firms Agree To Cut Fees They Charge Merchants: Source