Published: Mon, July 02, 2018
Global Media | By Garry Long

Mnuchin says Axios report on Trump wanting to exit WTO is wrong

Mnuchin says Axios report on Trump wanting to exit WTO is wrong

It would be an "exaggeration" to say US President Donald Trump is planning to withdraw from the World Trade Organization (WTO), Treasury Secretary Steven Mnuchin said Friday, denying a media report by news website Axios.

President Donald Trump has been privately suggesting that he wants the USA to withdraw from the World Trade Organization, according to a new report.

"He's (threatened to withdraw) 100 times". The same source said Trump has told his advisors, "We always get f-ed by them [the WTO]".

"Faced with these unjustified tariffs, the United States will take all necessary actions under both USA law and worldwide rules to protect its interests", he said. "But we have not been treated fairly on trade", he said.

Despite the president's threats, many American trade representatives believe that withdrawal would create such a profound and immediately negative impact on the American economy that Trump would never actually pull the trigger. MrTrump, however, accused the global trade body of treating America very badly.

House Rejects Immigration Reform Bill Backed By GOP Leadership
With this in mind, it becomes clear that the opposition will continue to refuse to back any reform of US immigration policy. But he then said lawmakers from his Republican Party, which has a majority in Congress, should give up on it.

Trump "has concerns about the WTO", Mnuchin said Friday during an interview on Fox Business.

It is to be noted that the European Union and Canada have already filed a case at the WTO over the tariffs and both the U.S. allies have begun their dispute proceedings. He thinks there's aspects of it that are not fair.

While the U.S. can exit the WTO, it's uncertain whether Trump could do so without approval from Congress, where many lawmakers - including Republican proponents of free trade - would likely put up a fight.

About 160 countries belong to the WTO, including the United States, the UK, Canada, Mexico and China.

Lighthizer contrasted the USA actions with the EU: "The European Union has concocted a groundless legal theory to justify immediate tariffs on US exports".

Like this: