U.S. President Donald Trump threatened in an interview with Bloomberg News on Thursday to withdraw from the World Trade Organization if “they don’t shape up,” in his latest criticism of the institution.
Such a move could undermine one of the foundations of the modern global trading system, which the United States was instrumental in creating.
“If they don’t shape up, I would withdraw from the WTO,” Trump said.
Trump has complained the United States is treated unfairly in global trade and has blamed the WTO for allowing that to happen. He has also warned he could take action against the global body, although he has not specified what form that could take.
Reporting by Makini Brice; Editing by Mohammad Zargham and Peter Cooney
Pope Francis struck with unknown illness one day after expressing solidarity with coronavirus sufferers
Just one day after expressing solidarity and support for coronavirus sufferers, Pope Francis has come down with a virus himself, forcing him to cancel a planned mass in Rome, the New York Post reports.
The unknown illness struck the Pope while the coronavirus spreads across Italy. According to CNN, Italian authorities have cordoned off areas where more than 50,000 people live in an attempt to prevent further outbreaks. Around 400 cases of coronavirus have been confirmed in Italy, and 12 have died.
‘Rich people have profited enough’: New poll shows two-thirds of Americans support wealth tax to combat inequality
Support for a wealth tax to combat persistent inequality in the U.S. is growing, according to a new poll released Wednesday by TheHill/HarrisX which found that just over two-thirds of Americans favor a tax on the wealthiest households.
Sixty-seven percent of respondents—including majorities of Democrats and Independents—said there should be a wealth tax on billionaires, as Democratic presidential candidates Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) have proposed.
Could coronavirus really trigger a recession?
Fears are growing that the new coronavirus will infect the U.S. economy.
A major U.S. stock market index posted its biggest two-day drop on record, erasing all the gains from the previous two months; companies including Apple and Walmart have been warning of potential sales losses from COVID-19 and the Centers for Disease Control and Prevention told Americans to prepare for the outbreak to spread to the United States, with unknown but potentially “bad” consequences.