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Trade War: Trump Now Threatens to Pull US Out of World Trade Organization

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LAHORE MIRROR (Monitoring Desk)– Pursuing his ‘America First’ goal and further heightening the ongoing trade war, President Donald Trump has threatened to withdraw the US from the World Trade Organization (WTO).

“If the body fails to change the way it treats US, I would withdraw from the WTO,” Mr Trump said in an interview with Bloomberg News.

The WTO was established to provide rules for global trade and resolve disputes between countries.

But Mr Trump, who has been pushing protectionist policies, says the US is treated unfairly by the body.

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.

Meanwhile, Washington has recently been blocking the election of new judges to the WTO’s dispute settlement system, which could potentially paralyse its ability to issue judgments.

US Trade Representative Robert Lighthizer has also accused the WTO of interfering with US sovereignty.

Meanwhile, China has responded to US tariffs by imposing retaliatory taxes on the same value of US products and has filed complaints against the tariffs at the WTO.

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 Mr 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.

SOURCE: BBC NEWS