The World Was Not Ready For Donald Trump’s Enormous FART… Act

Trump Is Reportedly Planning to Replace the WTO With the FART Act

Trump Is Reportedly Planning to Replace the WTO With the FART Act

US President Donald Trump has threatened the World Trade Organization on Monday evening that "we'll be doing something" if the United States is not treated properly, just hours after the European Union said that US automotive tariffs would hurt its own vehicle industry and prompt retaliation.

"WTO has its flaws, but the 'United States Fair and Reciprocal Tariff Act, ' aka the U.S. FART Act, stinks", writes Anthony Scaramucci.

President Donald Trump speaks to the press aboard Air Force One in flight as he travels from Joint Base Andrews in Maryland, to Bedminster, New Jersey, June 29. "As (Treasury) Secretary (Steven) Mnuchin and the President have said, that is not accurate that the U.S. is leaving the WTO (sic)", White House Press Secretary Sarah Sanders told reporters at her daily news conference.

In the Axios story on the leaked text, the legislation is referred to as the "United States Fair and Reciprocal Tariff Act". Or, the "FART Act". He said he wasn't "planning anything now" but if the WTO doesn't treat the USA properly, "we will be doing something". Axios reported that "most officials involved in the bill's drafting. think the bill is unrealistic or unworkable".

Neighbor calls police on 12-year-old boy mowing lawn
What's next? We'll tell you - people called the cops on this 12-year-old LAD who was trying to build his lawn mowing business. However Maple Heights police wrote in a report that "there was no clear indication where the property line begins and ends".

The proposed legislation is far from a done deal, according to other media reports and the White House itself.

Trump also said USA officials would meet soon with European counterparts to discuss a spate over trade tariffs, saying the European Union wanted to "work something out".

"The only way this would be news is if this were actual legislation that the administration was preparing to roll out, but it's not", White House spokeswoman Lindsay Walters told Axios. He has asked his team to develop ideas to remedy this situation and create incentives for countries to lower their tariffs. The EU calculated that a 25 percent tariff would have an initial $13 billion-$14 billion negative impact on USA gross domestic product with no improvement to the country's current account balance.

Asked to respond to reports that the USA was planning to withdraw from the WTO, Trump said, "We are not planning anything now, but if they don't treat us properly, we will be doing something".

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