The Geneva-based World Trade Organization must change the way they deal or else United States would withdraw from it, threatens President Donald Trump on Thursday while talking to a Bloomberg News representative in his Oval Office.
The president targeted a cornerstone of the international trading system and said pulling out means would be more significant than growing trade war with China in global economy.
Earlier, the US Trade Representative Robert Lighthizer said China was a non-market economy and allowing the country into WTO in 2001 was a big mistake.
Lately Trump’s administration launched a case against Russian duties on US products alleging those to be illegal.
Following the end of World War II almost all the US presidents have strived to strengthen global trading rules and bring stability to the world economy.
WTO was founded in 1994 and it was a part of a US-led effort to establish a platform that helps in resolving trade disputes.
Last month Trump said US is at a big disadvantage by being badly treated for years by the international organization.
Lighthizer accused dispute-settlement system of the organization as it is interfering with US sovereighnty on cases like anti-dumping.
The Trump’s administration has filed several cases against other members including that of Russian duties.
Lately officials from Japan and European Union visited Washington to discuss about potential changes in taking on China at the WTO.
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