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'Been Screwing Us for Years': Trump Threatens to Pull Out of WTO Over 'Unfair' Treatment

Trump is especially critical about the terms granted to China when it joined the organization, given US complaints about Chinese theft of American technology.

News18.com

Updated:August 14, 2019, 9:13 AM IST
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'Been Screwing Us for Years': Trump Threatens to Pull Out of WTO Over 'Unfair' Treatment
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Monaca (US): President Donald Trump has threatened on Tuesday to pull the United States out of the World Trade Organization if conditions are not improved.

This comes after a series of previous attacks on the WTO made by Trump, who has accused the international body of meting out unfair treatment toward the United States.

Trump said that Washington does not have to abide by WTO rulings.

"We will leave if we have to," Trump told a cheering audience of workers at a Shell chemical plant in Pennsylvania on Tuesday.

"We know that they have been screwing us for years and it's not going to happen again," he said.

He is especially critical about the terms granted to China when it joined the organization, given US complaints about Chinese theft of American technology.

But the United States in fact has a successful track record of winning disputes mediated by the global trading body. While calling for reforms to the institution's rules, the Trump administration also has effectively paralysed its work.

By blocking naming of new members to the appellate panel part of the Dispute Settlement Body that arbitrates disputes, the system will grind to a halt by the end of the year.

Chad Bown, a trade expert with the Peterson Institute for International Economics, said the moves weakening the WTO have done "lasting damage," not all of which can be reversed.

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| Edited by: Ahona Sengupta
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