The Trump administration reportedly drafted a bill to abandon key World Trade Organization rules
The Trump administration has drafted legislation that would empower the president to ignore international trade rules set by the World Trade Organization, according to a leaked draft of the bill obtained by the news website Axios, Newstimes reports.
The draft bill, known as the "United States Fair and Reciprocal Tariff Act," would essentially allow President Donald Trump to unilaterally raise tariffs without Congress' approval.
The WTO maintains a rules-based system meant to resolve international trade disputes, end unfair trade practices, and head off potential trade wars. But Trump has reportedly said that foreign countries use the organization to "screw the United States."
Should the US walk away from the WTO, it would undermine the entire system of trade rules agreed upon by the international community.
One source familiar with the Trump administration's draft bill told Axios it was "insane."
"It would be the equivalent of walking away from the WTO and our commitments there without us actually notifying our withdrawal," the source said. "It's not implementable at the border … and it would completely remove us from the set of global trade rules."
According to Axios, Trump was briefed on the draft legislation in late May, and most of the officials who wrote it believe the bill is untenable, unlikely to receive any support in Congress, and essentially "dead on arrival."
White House spokeswoman Lindsay Waters told Axios that Trump had asked his staff to come up with ways to persuade other countries to lower their tariffs.
"It is no secret that POTUS has had frustrations with the unfair imbalance or tariffs that put the US at a disadvantage," she said.
Trump has been angling for some time to withdraw the US from the WTO completely, though he would be unable to do so without Congress' approval.
- Trump: I'll be Putin's Worst Enemy "Getting along with President Putin, getting along with Russia, is positive, not a negative," the US President Donald Trump said.
- Iran files Suit in International Court against U.S. over Sanctions A State Department official said the application was without merit and the United States would fight it in the court.
- Prime Minister Pashinyan Sends Congratulatory Message on U.S. Independence Day I should note with satisfaction the special role played by the vibrant U.S.-based "Armenian community, which is building bridges of friendship between our countries with its active structures and unconditional...
- "US laws are the dumbest in the world". Donald Trump "Republicans want Strong Borders and no Crime. Dems want Open Borders and are weak on Crime!", - said president Trump.
- Bill Shine, Former Fox News Co-President, to Take on Senior Communications Role at White House Sources tell Fox News that Shine has discussed a White House position with Trump on two other occasions, but both times the potential appointment fell through.
Hillary Clinton Says Putin Knows How to 'Manipulate' People Due to KGB Past
Deputy Prime Minister: Acemoğlu Never Demanded any Money from the Armenian Government
Newspaper: Angela Merkel Plans to Visit Armenia in August
Weather Forecast in Armenia
Trump Signs Law on Promoting Human Rights in North Korea
NASA Awards its Highest Honor to Yervant Terzian
Trump Accuses China and EU of Manipulating their Currencies
Israel, Hamas Agree to Restore Calm in Gaza: Hamas
Man Arrested After Knife Attack on German Bus
US Secretary of State Speaks about Trump's Successes in Talks with Putin
Armenia PM: When Azerbaijan will be Inclined to Compromise, We will Discuss Compromise Limit for us
EU Urged Member States to Prepare for Brexit Negotiations
Trump: I'll be Putin's Worst Enemy
President of Artsakh addresses congratulatory message on foreign ministry’s 25th anniversary
PM Receives Special Representative of the OSCE Chairperson-in-Office on Combating Corruption
Israel Has Adopted Divisive Jewish Nation-State Law
Trump Is Looking Forward to a Second Meeting with Putin
Zakharova: Russia Wants to Restore Relations with Georgia
Pashinyan: The Sale of Weapons to Azerbaijan by the Belarusian Authorities Is Unacceptable
Trump Holds Putin Responsible for US Elections Interference
Prince William Got an Armenian Cross as a Gift
A Lebanese Politician of Armenian Ethnic Origins is in the top-5 of the Most Successful Business Women in the Middle East
Nikol Pashinyan: "Our most important goal is not only to stop the tide of emigration, but to reverse the trend" (PHOTOS)
Feast of Transfiguration of Our Lord Jesus Christ
Erdogan Plans to Involve Ethnic Armenian Economist Daron Acemoglu in the New Cabinet
Comment by the Ministry of Foreign Affairs of the Republic of Artsakh on the UN Security Council Resolutions on the Azerbaijan-Karabakh Conflict
Appointment of The Ambassador is Very Important for Armenia-Ukraine Relations: Head of the Armenia-Ukraine Friendship Group
At the Invitation of President Armen Sarkissian President of Italy Sergio Mattarella will Conduct a State Visit to Armenia
Commemoration of the Tabernacle of Old Testament (or the Old Ark) and the Feast of the New Holy Church
War mongering and saber rattling are irrelevant: Armenian FM on Ilham Aliyev's Statement about Karabakh Conflict
Wind: 17.70 km/h