Trump makes a veiled threat towards the WTO - Reuters
As reported by Reuters, US President Donald Trump made a thinly-veiled threat against the WTO on Monday, warning that the US would "be doing something" if they are not treated properly.
Key quotes
"Trump, speaking to reporters during a meeting with Dutch Prime Minister Mark Rutte at the White House, said, “The WTO has treated the United States very, very badly and I hope they change their ways.” His comments came after the Axios news website reported that Trump’s administration has drafted proposed legislation that would allow Trump to raise tariffs at will and negotiate special tariff rates with specific countries — two basic violations of WTO rules.
The United States has “a big disadvantage with the WTO. And we’re not planning anything now, but if they don’t treat us properly, we’ll be doing something,” Trump said, without elaborating.
Last week, a source familiar with Trump’s thinking told Reuters that the president has privately expressed a desire to quit the WTO, but that it was not a serious proposal."
Author
Joshua Gibson
FXStreet
Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.
