Trump to order a study on abuses of US trade deals

Trump to order a study on abuses of US trade deals

US President Donald Trump walks across the South Lawn of the White House after arriving by Marine One in Washington on Friday. (EPA photo)
US President Donald Trump walks across the South Lawn of the White House after arriving by Marine One in Washington on Friday. (EPA photo)

WASHINGTON:US President Donald Trump will sign an executive order on Saturday seeking to identify any problems caused by his country's existing trade agreements, including an examination of US involvement in the World Trade Organization (WTO), a top trade official said.

Commerce Secretary Wilbur Ross said his department would work to issue a report in 180 days outlining challenges with these trade deals and possible solutions.

Ross singled out the WTO as an entity that may need to make some changes, although he cautioned that the administration had not made any decisions yet.

"There's always the potential for amending organisation's charters like the WTO, particularly when you're in the position we are," he said. "We're the number one importer in the whole world."

Ross raised concerns that the WTO is too bureaucratic and does not hold meetings often enough. He also argued that the WTO has an "institutional bias" in favour of exporters and against countries that are being "beleaguered by inappropriate imports."

Remaking US trade relations has been a top priority for Trump, who has argued that the United States has been treated unfairly in international trade.

Trump said on Thursday that he had been prepared to terminate the North American Free Trade Agreement (Nafta) with Canada and Mexico, but backed off after calls from the leaders of those two countries.

The effects of Nafta on the US economy will also be examined in the new study.

Last month, Trump also issued an order calling for a major review of the causes of all US trade deficits.


Do you like the content of this article?
COMMENT (1)

Election promises

Pheu Thai has pledged to lift minimum wages and crop prices as it kicked off a campaign to end military-backed rule in elections slated for 2023.

18:22

Bangkok administration targets B80bn tax revenues

The Bangkok Metropolitan Administration (BMA) will seek to amend the Bangkok Metropolitan Administration Act of 1985 to enable it to generate more income to meet its target of 80 billion baht in tax revenues in the current fiscal year, governor Chadchart Sittipunt said on Tuesday.

17:54

Al Jazeera submits slain journalist's case to ICC

THE HAGUE: TV network Al Jazeera submitted the case of slain journalist Shireen Abu Akleh to the International Criminal Court (ICC) on Tuesday, saying she was killed by Israeli forces.

17:45