Trump Threats, Demands Spark ‘Existential Crisis’ at WTO

The World Trade Organization is scrambling to develop a plan for the biggest reform in its 23-year history after U.S. President Donald Trump brought the world’s top trade court to the brink of collapse by blocking appointments of its judges and threatening to pull the United States out of the organization. Trump’s administration has targeted
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U.S. Trade Representative Robert Lighthizer has sent a gift to Brexit supporters. His letter notifying Congress that the Trump administration plans to seek a “cutting-edge” free-trade deal with the U.K. was music to the ears of those who have long argued that leaving the European Union will allow Britain to pursue an ambitious policy of
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For ordinary Iranians, a sudden shortage of tomato paste, is an omen that U.S. sanctions, combined with their government’s mismanagement of the economy, could make basic foods more expensive, and harder to find. Tomato paste is a crucial ingredient in many Iranian dishes, and inevitably, panic-buying has set in. The fears are not misplaced: the
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Beyond the name change, President Donald Trump’s new U.S.-Mexico-Canada Agreement isn’t that different from the North American Free Trade Agreement that it replaced. But hidden in the bowels of the new trade deal is a clause, Article 32.10, that could have a far-reaching impact. The new agreement requires member states to get approval from the
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President Donald Trump’s trade war with China is set to prompt a shift in the U.S. farm industry as growers switch to other crops. Farmers probably will plant more corn for next year’s harvest at the expense of soybeans, Tim Brusnahan, vice president of consulting at Brock Associates, said Thursday at an investor meeting for
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Russian President Vladimir Putin said his American counterpart’s Iran sanctions are largely to blame for current high oil prices. “President Trump considers that the price is high; he’s partly right, but let’s be honest,” Putin said at the Russian Energy Week conference in Moscow on Wednesday. “Donald, if you want to find the culprit for
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Factory activity plunged from Asia to Europe in September, reflecting how few countries are left unaffected by a U.S.-led shake-up of international trade policies. Chinese manufacturers said output took a hit amid the worst contraction in export orders since 2016, leading similar trends across Taiwan, Vietnam, and Indonesia. Confidence continued to plummet at Japanese firms,
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US President Donald Trump is the “main culprit” to blame for a recent surge in oil prices, Iranian Oil Minister Bijan Namdar Zanganeh said on Wednesday 26 Sep ‘18. “The main culprit of the price hikes… and the destabilisation of the market is Mr Trump and his disruptive and illegal policies,” Zanganeh said on state
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While addressing the world leaders at the 73rd session of the United Nations General Assembly (UNGA) in New York 25 September 2018 he warmly praised India for its efforts to lift millions of its people out of poverty into the middle class. “There is India, a free society (of) over a billion people, successfully lifting
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As promised, U.S. President Donald Trump has escalated his trade war against China — announcing tariffs of 10 percent on another $200 billion in goods, plus a threat to raise the levy to 25 percent next year. Nearly half of China’s exports to the U.S. now face Trump’s taxes on trade. The president boasts that
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