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US declares it is not bound by World Trade Organisation rulings

US PRESIDENT Donald Trump's administration claims that the US isn't bound by decisions made at the World Trade Organisation, Bloomberg News reports. The comments came as Mr Trump's officials outlined a new trade agenda that aims to block unfair practices by foreign countries, said the report.

The US plans to defend its "national sovereignty over trade policy", the Office of the US Trade Representative said in an annual document laying out the president's trade agenda. Under the terms of its entry into the WTO, the US didn't abandon its trade rights, according to the document, obtained by Bloomberg News and titled "2017 Trade Policy Agenda".



The Trump administration's hostility towards the WTO signals a US willingness to pursue its interests, even if it undermines the global order the US has led since World War II, said Bloomberg.



"It reflects their belief that the global system isn't serving US interests and they're going to do all they can to rewrite in favour of US interests," said ex-Canadian trade official Adam Taylor. 



"The biggest worry is that you can't have the rules that govern the global trading system being ignored by one party and expect the system to keep functioning," said Mr Taylor.



The overarching purpose of the US administration's trade policy will be to "expand trade in a way that is freer and fairer for all Americans," according to the report.



"Every action we take with respect to trade will be designed to increase our economic growth, promote job creation in the United States, promote reciprocity with our trading partners, strengthen our manufacturing base and our ability to defend ourselves, and expand our agricultural and services industry exports," it said.
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