The Trump administration has stepped up its attack on the World Trade Organization ahead of a crunch meeting in March, stating that the body’s core principle of reciprocity in trade is dead.
The US declared that the “era had passed” for the long-standing most-favoured nation (MFN) principle, which requires countries not to discriminate between their trading partners, in a memo circulated to WTO diplomats and seen by the Financial Times.
“The MFN principle . . . was designed for an era of deepening convergence among trading partners,” the document said. “That expectation was naive, and that era has passed.”
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