Addressing a gathering at Pennsylvania on Tuesday, Trump said India and China - the two economic giants from Asia - are no longer developing nations and as such they can not taken the benefit from the WTO. We're not letting that happen anymore...
Earlier in July, Trump had asked the WTO to define how it designates developing country status, a move aimed at singling out countries like China, Turkey and India which are getting lenient treatment under global trade rules.
Donald Trump-led USA government has also seen a couple of setbacks with trade in India.
The White House occupant was confident that for many years other countries, including China, used the global trade body to their advantage against the United States. He will not let it happen any more, he asserted.
This comes after a series of previous attacks on the WTO made by Trump, who has accused the worldwide body of meting out unfair treatment toward the United States, News18 reports. The reason is the stance of President Donald Trump who claims that numerous WTO member countries enjoy the undeserved status of developing countries, which also gives them certain preferences. For instance, they are entitled to softer tariff cuts, longer transition periods, and advantages in the case of disputes as well as other benefits.
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The Geneva-based WTO is an intergovernmental organization that governs trade relations between countries worldwide.
Earlier, the United States commander-in-chief repeatedly slammed the WTO saying that he was ready to order Washington to pull out of the organization if it does not clean up its act. "They (WTO) view certain countries like China, India... as growing nations".
The World Trade Organization is often the target of various attacks by Donald Trump.
According to Chad Bown of the Peterson Institute for International Economics, these United States actions weaken the WTO and cause "long-term defeat", some of which can not be corrected.