Leaked Document Shows Trump Wants To Destroy WTO Relationship

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Axios reported Monday that the Trump administration is looking to possibly abandon World Trade Organization rules and implement a Fair and Reciprocal Tariff Act.

According to press reports, any such bill stands little chance of being enacted into law, which means the President could consider withdrawing the USA from the WTO altogether.

It's the acronym for the Act that's caught the attention of Twitter though.

President Donald Trump hasn't addressed the FART Act controversy as of this publication but he did tweet Tuesday morning, saying, "The economy is doing perhaps better than ever before, and that's prior to fixing some of the worst and most unfair Trade Deals ever made by any country".

One of the few engaging with the substance of the bill, and not just its packaging, was Anthony "The Mooch" Scaramucci, Trump's short-lived former director of communications, who said that asking American consumers to pay for tariffs "stinks".

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.

United Kingdom police respond to 'poison' incident near Skripals' home
Police have also cordoned off five locations in Amesbury and Salisbury that the couple likely visited on Saturday. A man in Amesbury , Sam Hobson, 29, told AFP he was a friend of the pair and said he saw the man fall ill.

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

"And we're not planning anything now, but if they don't treat us properly, we'll be doing something", Trump said, without elaborating.

Trump ordered the draft legislation and was briefed on it in May, Axios first reported, citing sources familiar with the situation, and the report said most officials involved in crafting the proposal believe it is "unrealistic or unworkable".

White House spokeswoman Lindsay Walters told Axios that the administration was not preparing to roll out such legislation. He says he's not "planning anything now" but if the WTO doesn't treat the U.S. properly, "we will be doing something".

Mnuchin added that although Trump has concerns regarding China and other countries using the WTO to their advantage, the US President is still focused on "free trade" and "breaking down barriers". "The era of economic surrender is over", said Donald Trump in his latest State of the Union Address in January.

The Commerce Department launched its investigation, on grounds of national security, on May 23 under orders from Trump, who has frequently complained about the EU's 10 percent vehicle tariff being four times that of the United States, apart from the 25 percent USA levy on pickup trucks.

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