US President considers withdrawing from WTO

US President Donald Trump. Photo: CNBC

In an interview with the US news agency Bloomberg yesterday (August 30), US President Donald Trump said that he is considering withdrawing from the World Trade Organization (WTO) if this agency does not reform.

This is considered an official warning from the White House owner regarding the relationship between the US and the world's largest international trade organization.

Earlier in July, President Donald Trump also threatened to take action against the WTO after media reports said the White House boss wanted to withdraw from the agency that sets rules for global trade.

The US president often complains that the US is treated unfairly in global trade and blames the WTO for allowing this to happen.

The US administration’s recent trade policies are facing opposition from many WTO members. At the end of May, the US officially announced a new import tax of 10% on aluminum and 25% on steel from its allies, including the European Union (EU), Canada and Mexico, after a two-month exemption. The new decision by the US immediately met with warnings of retaliation from related partners.