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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump administration set to abandon fundamental WTO rules after devising bill called FART Act
Donald Trumps administration has drafted a bill that proposes abandoning fundamental principles of the World Trade Organisation (WTO.)
The Fair and Reciprocal Tariff Act, dubbed the Fart Act, would give the president licence to raise tariffs without congressional consent and sidestep international rules.
It would be the equivalent of walking away from the WTO and our commitments there without us actually notifying our withdrawal, a source familiar with the bill told Axios, which obtained a leaked copy of the proposals.
The source described the bill as insane and said most officials involved in its drafting think it is unrealistic or unworkable.
The good news is Congress would never give this authority to the president, they added. Its not implementable at the border... and it would completely remove us from the set of global trade rules.
The leaked proposals heightened fears that Mr Trump could trigger a global trade war, while the Fart Acts name prompted widespread derision.
More here ->https://www.independent.co.uk/news/world/americas/us-politics/trump-wto-fart-bill-abandon-steve-mnuchin-us-tariffs-eu-trade-war-a8426246.html
The Fair and Reciprocal Tariff Act, dubbed the Fart Act, would give the president licence to raise tariffs without congressional consent and sidestep international rules.
It would be the equivalent of walking away from the WTO and our commitments there without us actually notifying our withdrawal, a source familiar with the bill told Axios, which obtained a leaked copy of the proposals.
The source described the bill as insane and said most officials involved in its drafting think it is unrealistic or unworkable.
The good news is Congress would never give this authority to the president, they added. Its not implementable at the border... and it would completely remove us from the set of global trade rules.
The leaked proposals heightened fears that Mr Trump could trigger a global trade war, while the Fart Acts name prompted widespread derision.
More here ->https://www.independent.co.uk/news/world/americas/us-politics/trump-wto-fart-bill-abandon-steve-mnuchin-us-tariffs-eu-trade-war-a8426246.html
Yes, the FART Act...you can't make this shit up.
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Trump administration set to abandon fundamental WTO rules after devising bill called FART Act (Original Post)
PunkinPi
Jul 2018
OP
So, we put tariffs on stuff coming in equal to what that country puts on stuff of ours?
The Mouth
Jul 2018
#6
Wounded Bear
(58,605 posts)1. Well, Trump is British for fart, right...
so that makes it aptly named in more ways than one.
PunkinPi
(4,874 posts)3. Did not know that, thanks and apropos. nt
brucefan
(1,549 posts)2. Beavis and Butthead
Are somewhere in the White House
peekaloo
(22,977 posts)5. or their Canadian cousins, Terrence and Phillip
get a whiff of that!
The Mouth
(3,145 posts)6. So, we put tariffs on stuff coming in equal to what that country puts on stuff of ours?
Going to be hard to sell to the average voter that there is anything unfair about that. I mean people sophisticated in international economics can surely make cogent arguments that "yes, we should have lower tariffs here than Germany or Canada does", but it is going to be hard to have that make sense in the world of soundbites and elections.
Xolodno
(6,384 posts)7. I feel sorry for the Onion...
...doing satire must be really hard these days.
spanone
(135,795 posts)8. they would have impeached President Obama for doing this... overstepping his authority.
but the rethugs give him a pass