Draft admin proposal would allow Trump to ignore key WTO principles


Trump Draft Tariffs Bill Tears Up WTO Rules: Report

Last Friday the outlet had reported that Trump had asked aides about pulling the US out of the WTO, and said the world had used the organization to "screw the United States". Both sets of tariffs would be based on concerns about USA national security. The result is the FART bill, and critics worry it would give the president overreaching authority while fouling up USA relations with the World Trade Organization and other countries.

A White House spokesperson confirmed that Trump asked his team to work up ideas to "remedy" what he sees as unfair trade laws.

However, the Axios article notes that Trump could not unilaterally declare a withdrawal, which USA law "states quite plainly...requires an act of Congress".

Navarro replied to Short that he thought the bill would get plenty of support, particularly from Democrats, but Short told Navarro he didn't think Democrats were in much of a mood to hand over moreauthority to Trump.

The act would allow Trump to ignore the WTO's "most favored nation" principle, which stops countries trading on different terms with different trading partners unless they have a formal trade agreement, Axios said.

According to Axios, Trump was briefed on the bill in May, but it hasn't yet been reviewed by key economic advisers.

Notorious French gangster escapes Paris prison by helicopter: Media reports
The helicopter - hijacked from a terrified flight instructor - landed at around 11:15 am (4:15pm Thai time) in the prison yard. According to the BBC , Faid has said his lifestyle was inspired by Hollywood gangster films, including " Scarface ".

Former U.S. International Trade Commission Economist Peter Morici on President Trump's concerns about the WTO, Europe's migrant crisis and the state of the U.S. economy.

Trump's aggressive stance on trade has roiled U.S. relations with allies and trading partners from Europe to China.

"They have to treat us fairly", Trump said Friday about the WTO.

Trump said last week that the government would complete its study soon and suggested the United States would take action, having earlier threatened to impose a 20% tariff on all EU-assembled cars.

The same source added that for now Trump's aides have managed to "push back" against the idea of the USA leaving the WTO by ensuring that the country actually "does well" in the organization.

A trade official says Moscow has initiated a dispute complaint against the USA over the 25 per cent tariffs on steel and 10 per cent tariffs on aluminum, by circulating the request Monday among WTO members in Geneva.

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