TRUMP WARNS WTO-SAYS LET US CHANGE THE RULES ON TARIFF SETTINGS

Trump's threats are unappealing but EU could do a  U.S auto deal

                       

SOURCE

The European Union could at this time do a deal with the US auto sector despite the unappealing negotiating style of Mr.Trump, says the executive director of ITC (International Trade Centre)

ITC is a joint agency of World Trade Organisation and United Nation established in 1964. It was developed to make the SMEs (small and medium sizesd enterprises) more competitive and connect to international markets for trade and investment

But before EU could make a deal it said two things :
first thing they said is "that they are not going to negotiate under a threat or under a gun on their head and the second thing they said  if their is any particular sector causing difficulties to U.S like vehicles then let's sit down and discuss" - said Arancha Gonzalez executive director of ITC.
                                      

Gonzalez further added that the concept of freeing a particular sector from the rules of tarrifs was first recommended by  Robert Zoellick when he was the trade representative during G.W.Bush's presidency.

"It is a great idea, but the problem you look at trying to implement it, you will have a number of unhappy sectors. I guess that producers of trucks in the U.S. that currently enjoy the protection of a 20 percent tariff would not be very eager to surrender that protection," she added.

“You know there's a mechanism where each year the U.S. incorporates a method to choose whether or not they wish to pull out of the WTO. Since the WTO has been alive, the solution in Congress has invariably been, ‘No, we wish to stay a member of the family.’ I doubt this can change presently,” she said.

Earlier this month China was pressurizing  EU to form an anti-U.S pact against Trump's trade policies. China has put forward an idea of setting up an  alliance between the two sides and is ready to open Chinese  market to Europe in exchange but this suggestion is encountering a huge resistance from the EU officials.

 A China-European summit will take place in Beijing on 16-17.