Donald Trump Quarreling With WTO

Forex News

Donald Trump expressed his demand to the WTO: no more judicial rulings that interpret WTO rules to Washington's disadvantage. Dennis Shea, Trump’s ambassador to the Geneva-based body claimed: "The United States is not content to be complacent about this institution”, adding: "And the leadership that the United States will bring to the WTO in the coming months and years will consequently involve a good deal of straight talk and a willingness to be disruptive, where necessary, in the interest of contributing to a stronger, more effective, and more politically sustainable organization."

The US President has repeatedly opposed WTO rules and judges of the Appellate Body, describing them as "a catastrophe". Trade experts strongly disagree with Trump. World Trade Organization’s membership has risen to cover around 95% of world trade, which suggests 18 trillion dollars in products annually.

The United States is also considered to be responsible for rewriting the rules in a dispute brought by Beijing over Washington's refusal to treat China as a "market economy". In a dispute hearing, China stated: "Is the WTO really a rules-based organization, or just a club where powerful traditional members can bend the rules?".