What the World Trade Organization actually is and why it would matter if the US leaves it

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The World Trade Organization (WTO) was established in 1995, a 50-year effort to secure rules-based trade so that harsh trade restrictions could not prevent countries from a global economy.
This enabled countries to grow faster and steadier and brought peace and prosperity to Europe and Japan.
Trump has reportedly considered suspending US compliance with the WTO.
If the US were to leave the WTO, other countries could freely raise tariffs against it.
This would inevitably raise prices and reduce choice for US consumers, undercut the competitiveness and profitability of companies that rely on imports and slow economic growth.

President Donald Trump has made the World Trade Organization a frequent target.

Recently, he’s reportedly considering suspending US compliance with the global body — a claim the White House quickly denied.See the rest of the story at Business Insider

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SEE ALSO: The Trump administration reportedly drafted a bill to abandon key World Trade Organization rules

Original Article : HERE ; This post was curated & posted using : RealSpecific

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