The Trump Administration is ready to abandon the basic rules of the WTO after the passage of the Fart Act bill

The administration of Donald Trump drafted a bill that proposes to abandon the fundamental principles of the World Trade Organization (WTO).

Fair and Reciprocal Tariff Act Would Give President the Power to Increase Tariffs Without Congressional Consent Legislation, allegedly ordered by Mr. Trump himself, would mark extraordinary change in policy allowing the United States to raise tariffs above the ceilings agreed by WTO countries and set different rates [Trump told badistants that he wants to remove the United States. United States of the WTO, according to reports

"It would be the equivalent of moving away from the WTO and our commitments there without notifying our withdrawal," a source close to the bill told Axios. who got a copy of the proposals.

stated that the bill was "crazy" and stated that most of the officials involved in its drafting believe that it is unrealistic or impractical.

"The good news is that Congress will never give this authority to the President." "It's not applicable at the border … and that would take us completely away from the whole world trade rules."

The disclosed proposals increased fears that Mr. Trump could trigger a global trade war, while the name of the Fart Act provoked

"The WTO has its flaws, but the" Act on United States "fair and reciprocal tariffs", ie the US FART law, stinks. American consumers pay for tariffs, "tweeted Anthony Scaramucci, the director of communications of the White House ephemeral

Don Moynihan, a government professor at the University of Wisconsin-Madison, suggested that Mr. Trump might have trouble billing seriously. He wrote: "The world is making fun of us," says Trump , before proposing the FART Act. "

Robert Reich, professor of public policy at the University of Berkeley and former US Secretary of Labor, said:" Trump wants to abandon the rules of the World Organization of commerce – give it the power of 39, raise tariffs without the consent of Congress, isolate America and play in the vision of ultranationalist nationalism Putin and Xi. "

Political scientist Jasmin Mujanovic warned Mr. Trump has criticized the WTO since his presidential campaign, describing it as a" catastrophe, "and he reportedly told White House members that he wanted to

A source told Axios last week that the president had often told councilors, "We still have their share. I do not know why we are there. The WTO is designed by the rest of the world to vandalize the United States. "

US Treasury secretary Steve Mnuchin last week denied that Mr Trump wanted to take the US out of the WTO.

“This is an exaggeration,” Mr Mnuchin said. “The president has been clear, with us and with others, he has concerns about the WTO, he thinks there’s aspects of it that are not fair, he thinks that China and others have used it to their own advantage, but we are focused on free trade. That’s what we’re focused on – breaking down barriers.”

White House spokeswoman Lindsay Walters said the administration was not preparing to roll out the Fart Act or the drafting of the legislation did not mean the US was planning to leave the WTO.

She told Axios: “It is no secret that POTUS has had frustrations with the unfair imbalance of tariffs that put the US at a disadvantage. He has asked his team to develop ideas to remedy this situation and create incentives for countries to lower their tariffs. The current system gives the US no leverage and other countries no incentive.”

The US helped create the WTO in 1995 to establish a forum for international trade negotiation, the resolution of trade disputes, and the distribution of support for developing nations. There are 164 member economies, representing 98 per cent of global GDP.

Experts warn that the consequences of a US withdrawal would be catastrophic for global market sustainability and would mean the sudden deprivation of trillions of dollars in trade.