05.10.2022

Trump wants to withdraw US from the WTO

The President of the United States Donald trump wants to bring the country out of the world trade organization (WTO), says Axios.

According to the publication, head of the White house has repeatedly said high-ranking officials of his administration that he wants to withdraw the U.S. from the world trade organization.

The source, who participated in the discussion of this issue with trump, said that the President said his advisers that he did not know why the US is a member of the WTO, and that, in his opinion, the organization was created by other countries to interfere with United States.

Trump also criticized the WTO during his election campaign.

How to write “News.Economics”, Russia filed a lawsuit to the WTO to appeal to additional taxes for U.S. steel and aluminum, reported the Ministry of economic development.

“The Russian Federation sent a request for consultations with the United States under the dispute settlement procedure of the WTO in connection with additional duties on products of ferrous metallurgy and aluminum,” – said the Minister of economic development Maxim Oreshkin.

“The cause of action were numerous violations of WTO rules, committed by the United States with the introduction of this measure. In addition to Russia’s claims to the United States earlier sent to China, India, European Union, Canada, Mexico and Norway. The consultation is the first stage of dispute settlement procedure in the WTO, as provided for by the parties search for mutually acceptable ways to settle the dispute. If in the course of consultations such ways will not be found, Russia will be able to address the WTO with the request for the establishment of the arbitration panel for the dispute,” – said the Minister.

USA 23 March imposed additional import duties on steel and aluminum. A fee in the amount of 25% of subject steel products from all countries except Australia, Argentina, Brazil and South Korea. A duty of 10% levy aluminum products from all countries except Australia and Argentina. In addition, in respect of steel and aluminum products excluded from the scope of the duties of countries, with the exception of Australia, apply import quotas.

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