iSmartNetwork Magazine The online magazine for you…
Associated Press/Evan Vucci
The Trump administration has reportedly drafted a bill that would abandon the US’ commitment to the World Trade Organization’s rules.
Trump has recently been angling to withdraw the US from the WTO altogether — though Congress is unlikely to approve such a measure.
Administration officials involved in drafting the legislation told Axios it was “insane.”
The Trump administration has drafted legislation that would empower the president to ignore international trade rules set by the World Trade Organization, according to a leaked draft of the bill obtained by the news website Axios.
The draft bill, known as the “United States Fair and Reciprocal Tariff Act,” would essentially allow President Donald Trump to unilaterally raise tariffs without Congress’ approval.See the rest of the story at Business Insider
NOW WATCH: Why the North Korea summit mattered even if it was ‘mostly a photo op’
See Also:
Trump’s trade policy is a rerun of a terrible 1980s policy where ‘American consumers were the biggest losers’Trump reportedly wants to pull the US out of the WTO, a move that would wreck the international trade systemBusinesses say they are ‘bracing for the worst’ from Trump’s tariffs and the trade war could force them to leave the US
DON’T MISS: Trump reportedly wants to pull the US out of the WTO, a move that would wreck the international trade system
Read more: feedproxy.google.com
