The Trump administration is considering a draft legislation that would allow the US to abandon the key rules of the World Trade Organization (WTO), according to the Axios website.
News reports say that the draft bill called "United States Fair and Reciprocal Tariff Act" would give Trump the power to ignore WTO’s Most Favored Nation principle that prevents countries from setting different tariff rates for different countries unless they have free trade agreements.
“The draft bill published by Axios did not mention the WTO, but its report said the law would allow the United States to disregard tariff limits agreed at the WTO since 1995,” a New York Times article said.
During his meeting with Dutch Prime Minister Mark Rutte, Trump warned, “The WTO has treated the United States very, very badly and I hope they change their ways. We’re not planning anything now but if they don’t treat us properly we will be doing something.”