Donald Trump says he's not planning the release of the WTO, wants a better deal

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Donald Trump said his rates are designed to protect US industries that have been hammered by an unfair global trading system. Photo: AFP "title =" Donald Trump said his rates are designed to protect US industries that have been hammered by an unfair global trading system. Photo: AFP "clbad =" img-responsive "/> <p> Donald Trump said his tariffs were designed to protect US industries that have been hammered by an unfair global trading system.Photo: AFP </p> </div> <p><b> Washington: </b> President Donald Trump said he was not planning to step down from the World Trade Organization, while adding that the United States should be treated more equitably by the world organization. </p> <p> The United States will not leave the Geneva-based organization "Trump said Friday that the Axios news agency had repeatedly announced that White House leaders wanted to leave the company. WTO, citing people familiar with Trump's thinking. Earlier Friday, White House officials sought to quell concerns over the report, with Treasury Secretary Steven Mnuchin calling it an "exaggeration." </p> <p> Trump spoke about the WTO aboard Air Force One en route to Bedminster, New Jersey. Remarks peaked a month when global tensions exploded after America's major trading partners fought back against US tariffs by imposing their own restrictions </p> <p> In the latest escalation of global trade, Canada announced Friday that he would take $ 16.6 billion. ($ 12.6 billion) of US goods in response to US tariffs on steel and aluminum imports. US duties on $ 34 billion worth of Chinese goods are expected to come into effect on July 6 and an additional $ 16 billion could follow. China has promised retaliation in kind </p> <p> <b> Unfair Trade </b> </p> <p> Trump said its tariffs were intended to protect domestic industries that were hammered by an unjust global trading system. Trump has long criticized the WTO for allowing countries like China to impose high tariffs on US goods such as cars even as its economy has matured, although it's not the only way to save money. he did not promise to withdraw from the group. </p> <p> "Trump" has concerns about the WTO, "Trump said Friday during an interview with Fox Business." He thinks there are aspects that are not fair. "</p> <p> Short echoed the secretary in comments to reporters later in the morning, saying that" the president expressed frustration with international organizations. But I think the president also believes that significant tariffs are imposed on US products abroad. This is not a reciprocal tariff. "</p> <p> <b>" Serious Proposals "</b> </p> <p> Yet withdrawing from the WTO would isolate the United States from the global economy, according to Rufus Yerxa, a former deputy chief executive of "If you want to change that, you have to make serious proposals, but you do not just leave," he said. </p> <p> While the United States may leave At the WTO, it is uncertain that Trump could do this without congressional approval, where many lawmakers – including Republican supporters of free trade – would likely fight.This would also put US exporters at risk because other WTO members could raise tariffs on US imports.The United States would also lose any opportunity to reverse unfair trade practices in the WTO dispute settlement system. . </p> <p> "Congress does not accede that would not be it, "said Bill Reinsch, senior advisor at the Center for Strategic and International Studies. "They know very well how this has benefited the US When we file a complaint, we usually win." </p> <div clbad= First published: Sat, 30 June 2018. 05 03 PM IST
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