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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