By 1600 Staff
According to CNBC, Axios is reporting that President Trump is mulling a withdrawal from the World Trade Organization.
“He’s [threatened to withdraw] 100 times. It would totally [screw] us as a country,” one source told the media outlet. The same source said Trump has told his advisors, “We always get f—ed by them [the WTO]. I don’t know why we’re in it. The WTO is designed by the rest of the world to screw the United States.”
The media outlet said Trump’s aides push back when he talks about withdrawing, but four sources said they’ve never put in place a policy process to take the idea seriously. Axios also said a withdrawal from the WTO would require Congressional approval.
When asked about the Axios report, Treasury Secretary Mnuchin said, “There is no breaking news [here] … This is an exaggeration” in a Fox Business interview.
The bold move would be consistent with the president’s policies, as he has pulled out of other contentious arrangements, such as the Paris Climate Accords and the Iran Nuclear Deal. The president is not afraid to renegotiate bad trade deals, such as NAFTA and TPP, and the World Trade Organization is no different. Time will tell whether the president decides to pull America out of the international arrangement.
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