Trump threatens to withdraw United States from World Trade Organization

Trump threatens to withdraw United States from World Trade Organization

Azevedo said he was in discussions with the usa and other members about the need for reforms at the WTO and in global trading rules.

In an Oval Office interview with Bloomberg News, Trump said the agreement establishing the body "was the single worst trade deal ever made".

That line, told also to Bloomberg News, is Trump's most explicit threat yet to the WTO, the body that sets standards for global trade agreements and resolves related disputes.

Highlights of the Bloomberg News interview with President Donald Trump on Thursday.

But Trump's remark Thursday marks his most explicit threat to withdraw from the WTO yet. All these countries have imposed tariffs on American goods in response to duties imposed by the United States on their exports to the country.

India, China, Switzerland, Norway, Canada, Russia, Mexico and the European Union have also started legal processes against the U.S.at the WTO, according to the ministry.

His notice about a conceivable United States haul out from the association features the contention between the president's exchange strategies and the open exchange framework that the WTO manages.

Geert Wilders cancels Prophet Muhammad cartoon contest
Dutch Prime Minister Mark Rutte said last week: "This contest is not an initiative by the government". He claims he has received 200 entries so far.

The report on President Trump's China stance coincides with United States negotiators pushing to hammer out a deal with Canadian counterparts to overhaul the North American Free Trade Agreement (NAFTA).

"The US economy will also suffer in particular from the game without rules".

US Trade Representative Robert Lighthizer has said allowing China into the WTO in 2001 was a mistake.

The one creating the most interest is the one with China, as the world's two largest economies wrangle for global influence.

Countries that file complaints with the WTO tend to prevail and defendants in trade disputes lose. Trump said in an interview on Thursday that Mueller's appointment a year ago to investigate his 2016 election campaign for possible collusion with Russian Federation was wrong.

Trump said he wished the Federal Reserve would do more to help him in his administration's trade disputes, saying other central banks help their own countries or regions.

"We are a much stronger country", he said.

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