Trump Says He Will Pull U.S. Out of WTO ‘If They Don’t Shape Up’

Trump Says He Will Pull U.S. Out of WTO ‘If They Don't Shape Up’

John Micklethwait, Margaret Talev and Jennifer Jacobs   President Donald Trump said he would pull out of the World Trade Organization if it doesn’t treat the U.S. better, continuing his criticism of a cornerstone of the international trading system.
“If they don’t shape up, I would withdraw from the WTO,” Trump said Thursday in an Oval Office interview with Bloomberg News. A U.S. withdrawal from the WTO potentially would be far more significant for the global economy than even Trump’s growing trade war with China, undermining the post-World War II system that the U.S. helped build. Trump said last month that the U.S. is at a big disadvantage from being treated “very badly” by the WTO for many years and that the Geneva-based body needs to “change their ways.” U.S. Trade Representative Robert Lighthizer has said allowing China into the WTO in 2001 was a mistake. He has long called for the U.S. to take a more aggressive approach to the WTO, arguing that it was incapable of dealing with a non-market economy such as China. Lighthizer has accused the WTO dispute-settlement system of interfering with U.S. sovereignty, particularly on anti-dumping cases. The U.S. 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. Since World War II, successive U.S. presidents have led efforts to establish and strengthen global trading rules, arguing that they would bring stability to the global economy. The WTO was created in 1994 as part of a U.S.-led effort by major economies to create a forum for resolving trade disputes. https://www.msn.com/en-us/news/markets/trump-says-he-will-pull-us-out-of-wto-%E2%80%98if-they-dont-shape-up%E2%80%99/ar-BBMFFvc?ocid=sf