February 28 | By: Ian Talley and William Mauldin.
The Trump administration is developing a national trade policy that would seek to diminish the influence of the World Trade Organization in the U.S. and champion American law as a way to take on trading partners it blames for unfair practices, according to a draft document reviewed by The Wall Street Journal.
The policy, contained in a draft document due to be published as early as Wednesday, represents a dramatic departure from the Obama administration, which emphasized international economic rules and the authority of the WTO, a body that regulates trade and resolves disputes among its members.
By contrast, the new Trump administration will more assertively defend U.S. sovereignty over trade policy, ramp up enforcement of U.S. trade laws, and use “all possible sources of leverage to encourage other countries to open up their markets,” according to the document.
To read the full article, please click here.