According to Mikrofonnews Agency (MHA), the US President Donald Trump has warned he will walk out from the World Trade Organization (WTO) if the organization doesn’t change its policies toward America.
In an interview with Bloomberg, President Trump accused WTO of treating the United States of America unfairly. WTO has been established to provide rules for global trading and resolve trade among the countries and solving trade disputes among the member countries.
Mr. Trump says the body too often rules against the US, although he concedes it has won some recent judgments. He claimed on Fox News earlier this year that the WTO was set up “to benefit everybody but us”, adding: “We lose the lawsuits, almost all of the lawsuits in the WTO.”
Meanwhile, Washington has recently been blocking the election of new judges to the WTO’s dispute settlement system, which could potentially paralyze its ability to issue judgments.