PRESIDENT Donald Trump has threatened to pull the United States out of the World Trade Organisation as it treats the the US unfairly, he claims. The Republican president slapped tariffs valued at $200billion ($152bn) on Chinese goods which will start on September 24. Will Donald trump pull the US out of the World Trade Organisation? President Donald Trump has threatened to withdraw the US from the World Trade Organization (WTO), claiming it treats the US unfairly. In an interview with Bloomberg News, Trump said: "If they don’t shape up, I would withdraw from the WTO." It provides a framework for negotiating trade agreements and has a dispute resolution process aimed at enforcing participants' adherence to WTO agreements. Trump said the agreement establishing the body "was the single worst trade deal ever made" and last month claimed the US has been treated "very badly" by the WTO for many years and that the Geneva-based body needs to “change their ways." Trump says the body … [Read more...] about Will Donald Trump pull the US out of the World Trade Organisation and what tariffs have been imposed on China?
World trade organisation rules
President Donald Trump has threatened to quit the World Trade Organisation if it does not “shape up” and treat America better. The president’s warning comes as he ramps up a tit-for-tat trade war with China with a third round of tariffs on £154 billion of Chinese goods set to be enforced as early as next week. “If they don’t shape up, I would withdraw from the WTO,” he said today in an Oval Office interview. The president risks throwing international trade into further chaos by escalating his rhetoric against the economic body. He has long been critical of the WTO, which was formed in 1994 to provide a framework for global trade and help resolve disputes. He told Bloomberg News the agreement to establish the WTO was “the single worst trade deal ever made”. He claims the open trade system overseen by the body is at odds with his protectionist policies and insisted the United States has been treated “very badly” over the … [Read more...] about Trump threatens to pull America out of World Trade Organisation
A NO-DEAL Brexit would NOT be the end of the world and Britain would continue trading no matter what happens, the head of the World Trade Organisation has said. Director General Roberto Azevedo said Britain could slash its tariffs to attract more investment from around the globe if it wanted to in the case that we didn't secure a deal with the bloc when we leave. If Britain doesn't get a deal signed, it will fall back on WTO rules, on which most world trade is done. He told Radio 4 today that Brexit with no-deal would "not be the end of the world" - but admitted it would "not be a walk in the park either". Although he admitted that there could be some "barriers" on day one, trade would not stop next March, he vowed. Some sectors would be more affected by tariffs than others, but if we left on WTO terms we would lower our rates to countries around the world to attract more business. The director general of the WTO made the welcome intervention as the Brexit Secretary released more … [Read more...] about Head of World Trade Organisation admits no-deal Brexit won’t be ‘the end of the world’ – and trade WILL continue no matter what
News / Business by Press Association 15/05/2018, 4:48 pm Updated: 15/05/2018, 4:54 pm FacebookTwitterWhatsAppEmail Send us a story Sign up to our Daily newsletter The European Union is continuing to provide illegal subsidies to plane maker Airbus, the World Trade Organisation’s (WTO) appellate body has ruled. The WTO decision on the latest in a string of tussles between Europe’s Airbus and US rival Boeing comes as the Trump administration has exerted intense pressure on the Geneva-based organisation over what the president alleges is its “unfair” treatment of the United States. The appellate body maintained a ruling by the WTO’s compliance panel that EU “launch aid” provided to Airbus resulted in lost sales for Boeing in the twin-aisle and very-large aircraft markets. The move means that the US, under WTO rules, can ask an arbitrator to determine the level of retaliation it can seek against the European bloc as a result … [Read more...] about EU still providing illegal subsidies to Airbus – World Trade Organisation
You may recall a few weeks ago, before the Great Facebook Disaster, and before America started a trade war with China, that Donald Trump greeted record high share prices as tangible proof that his policies were working, and Making America (or at least corporate America) Great Again. I’m not sure what he thinks now that so many stock markets globally have slumped to two-year lows. His “stable genius” intellect may not have processed the fact that much of this has been down to his own policies – attacking Jeff Bezos, because he’s the owner of the Washington Post, which Trump hates, but also the boss of Amazon, one of the tech giants going through some turbulence right now. Trump may not even realise what he’s doing: and certainly not when he says a trade war is good for America and that America can “win” one “easily”. Well, never mind about Trump: what about the rest of us? All that value lost on shares means your pension … [Read more...] about The World Trade Organisation is terrified of Donald Trump and will not stop the global trade war