Trump administration would ignore WTO rulings it sees as anti-U.S. - Polidicks

[QUOTE][B]U.S. President Donald Trump's administration is preparing to ignore any rulings by the World Trade Organization that it sees as an affront to U.S. sovereignty, the Financial Times reported on Tuesday, citing a report prepared by officials.[/B] The draft document, due to be sent to the U.S. Congress on Wednesday, marks the first time the new administration has laid out its trade plans in writing, the Times said. "Ever since the United States won its independence, it has been a basic principle of our country that American citizens are subject only to laws and regulations made by the U.S. government -- not rulings made by foreign governments or international bodies," the report said, according to the Times.[/QUOTE] [URL]http://www.reuters.com/article/us-usa-trump-wto-idUSKBN16832U?il=0[/URL]

Good fucking bye to your fucking trade then, dipshits.

[QUOTE=DOCTOR LIGHT;51891919]Good fucking bye to your fucking trade then, dipshits.[/QUOTE] WTO takes years to sort this kind of stuff out.

[QUOTE=Boilrig;51891965]WTO takes years to sort this kind of stuff out.[/QUOTE] Then we'll lose it in several years, we're still fucked either way.

[QUOTE=Paramud;51891969]Then we'll lose it in several years, we're still fucked either way.[/QUOTE] This will only affect future me. He's an asshole.

[QUOTE=Paramud;51891969]Then we'll lose it in several years, we're still fucked either way.[/QUOTE] It will end up in some kind of mediation, where the Administration will do half or just quarter of what the WTO wants, and that will be enough to satisfy them.

[QUOTE=Boilrig;51891990]It will end up in some kind of mediation, where the Administration will do half or just quarter of what the WTO wants, and that will be enough to satisfy them.[/QUOTE] Much like the UK, you overestimate the US's importance in global trade. Throwing a tantrum will be more damaging to the US economy than you think.

[QUOTE=Trebgarta;51892138]Economy repairs itself. One of the wonders of the Free Market and sovereign countries having their own capabilities and volumes and decision-making. If USA kicks the bucket it wont be pretty but world as we know it wont cease to exist. Somebody will pick it up from there.[/QUOTE] Probably Germany ;)

[QUOTE=Trebgarta;51892138]Economy repairs itself. One of the wonders of the Free Market and sovereign countries having their own capabilities and volumes and decision-making. If USA kicks the bucket it wont be pretty but world as we know it wont cease to exist. Somebody will pick it up from there.[/QUOTE] If the USA kicks the bucket as you say, that will take the world with it. Yeah sure, we'll start again somewhere, but it won't be overnight.

[QUOTE=Boilrig;51892212]If the USA kicks the bucket as you say, that will take the world with it. Yeah sure, we'll start again somewhere, but it won't be overnight.[/QUOTE] Ladies and gentlemen, American exceptionalism at its finest.

[QUOTE=Boilrig;51892212]If the USA kicks the bucket as you say, that will take the world with it. Yeah sure, we'll start again somewhere, but it won't be overnight.[/QUOTE] America is 241 years old. Society has existed for much longer than that. Pull the other one -- it's got bells on.

[QUOTE=Boilrig;51892212]If the USA kicks the bucket as you say, that will take the world with it. Yeah sure, we'll start again somewhere, but it won't be overnight.[/QUOTE] So if Germany kicks the bucket is fine but not if UK or USA does it? You don't have to be an economist to know that if a economy dies, someone else takes its place.

The USA is still powerful, but is steadily losing its relevance among the fast-growing economies of China and India. What Trump with his dementia-addled mind cannot understand is that organizations like the WTO exist to help the most powerful countries in the world negotiate favourable trade deals - at this time, that's the USA. The country is certainly not self-sufficient. And in order to make a great number of deals favourable to the US, it must also make some in which it does not gain quite as much as its trading partner does. If the USA ignores the deals that don't work for it, everyone else will refuse to deal with the US in deals that are better for the USA than them, and seek other trading partners.

[QUOTE=Headhumpy;51892223]Ladies and gentlemen, American exceptionalism at its finest.[/QUOTE] Considering how intertwined everything currently is then yes. The world never exactly recovered from the 08 crash, like we are all worse off from that. It's about the flow on effects, which creates a dominos effect, our countries will survive, but we will be in shit. People forget how much the US is actually holding up. [QUOTE=archangel125;51892319]The USA is still powerful, but is steadily losing its relevance among the fast-growing economies of China and India. What Trump with his dementia-addled mind cannot understand is that organizations like the WTO exist to help the most powerful countries in the world negotiate favourable trade deals - at this time, that's the USA. The country is certainly not self-sufficient. And in order to make a great number of deals favourable to the US, it must also make some in which it does not gain quite as much as its trading partner does. If the USA ignores the deals that don't work for it, everyone else will refuse to deal with the US in deals that are better for the USA than them, and seek other trading partners.[/QUOTE] You are running on the idea that all our countries will band together and stop dealing with the US, countries will deal with them and have trade deals and continue on as normal because when it comes to most countries, they are smaller, usually rely on US support/protection/whatever. WTO will unhappy, and the process will begin, but it will take years.

[QUOTE=Boilrig;51892365]Considering how intertwined everything currently is then yes. The world never exactly recovered from the 08 crash, like we are all worse off from that. It's about the flow on effects, which creates a dominos effect, our countries will survive, but we will be in shit. People forget how much the US is actually holding up.[/QUOTE] And if the us prove themselves to be unstable, unreliable or inconsistent; other country's will start to move their business elsewhere. If foreign companies loser confidence in the US they'll invest elsewhere instead

[QUOTE=MarcusSmith;51892307]So if Germany kicks the bucket is fine but not if UK or USA does it? You don't have to be an economist to know that if a economy dies, someone else takes its place.[/QUOTE] I think it's pretty reasonable to say the world would be much more affected by the American economy collapsing than if it were to happen to Germany. It isn't American exceptionalism to acknowledge that the American economy is an incredibly significant part of the global economy and that America in general has a lot of financial weight to throw around through trade and aid.

[QUOTE=Trump]No one knew international trade could be so complex![/QUOTE]

[quote]"Ever since the United States won its independence, it has been a basic principle of our country that American citizens are subject only to laws and regulations made by the U.S. government -- not rulings made by foreign governments or international bodies,"[/quote] I mean, yeah, sure, that's true, if you don't want to have any kind of relations with any other countries in the world and only want to sit there on your own completely closed off form the rest of the world.