Business Standard

Trump says US could pull out of World Trade Organizati­on

- AGENCE FRANCE-PRESSE Washington, 25 July

Republican White House nominee Donald Trump has suggested that the United States could pull out of the World Trade Organizati­on (WTO) if he is elected president.

The New York billionair­e made the comments on Sunday during a wide-ranging interview with NBC television’s “Meet the Press,” his first since being crowned as his party’s presidenti­al nominee.

Trump, who has already threatened to renegotiat­e or rip up the North American Free Trade Agreement, also doubled down in the interview on recent comments questionin­g the US commitment to its NATO allies.

He said he would slap punitive import taxes of up to 30 per cent on firms that moved manufactur­ing activities abroad, citing NAFTA partner Mexico as an example. When show host Chuck Todd objected that such plans would be challenged at the WTO, he responded:

“Doesn’t matter. We’ll renegotiat­e or pull out. These trade deals are a disaster, Chuck. World Trade Organizati­on is a disaster.” Asked if he was concerned such actions could rattle the world economy — much as the British decision to exit the European Union has done — Trump was dismissive.

“I’m the only one that said Brexit is going to happen,” said the billionair­e. “What did it do? The stock market is higher now than when it happened.”

Pressed again on whether a fractured Europe was good for America, Trump equivocate­d, putting forward a vision of Europe as an economic competitor to be bested. “No, no — but we’re spending a lot of money in Europe,” he said. “Don’t forget, Europe got together, why primarily did they get together? To beat the United States when it comes to making money. In other words, on trade.

“The reason that it got together was like a consortium so it could compete with the United States.” “Look at Airbus,” he said. “They got together, all of these countries got together so they could beat the United States. Okay?” “So you know, we’re in competitio­n in one way and helping them in one way. It’s so messed up.” In the same interview, Trump said that French and German citizens could face “extreme” vetting at US borders in light of recent terror attacks in both countries.

Regarding the United States’ NATO commitment­s, Trump was unapologet­ic, repeating that he intended to force allies to shoulder defence costs that the United States has borne for decades. “We have countries within NATO taking advantage of us.

With me, I believe they are going to pay,” said Trump, who previously warned assistance to allies would depend on whether they “have fulfilled their obligation­s to us.”

 ?? PHOTO: REUTERS ?? Republican White House nominee Donald Trump (pictured) said he would slap punitive import taxes of up to 30% on firms that moved manufactur­ing activities abroad
PHOTO: REUTERS Republican White House nominee Donald Trump (pictured) said he would slap punitive import taxes of up to 30% on firms that moved manufactur­ing activities abroad

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