THE Trump administration has drafted a proposed United States Fair and
Reciprocal Trade Act that would provide for abandoning World Trade
Organisation (WTO) rules, reports American Shipper.

But White House spokeswoman Lindsay Walters said the administration is
not prepared to present the draft legislation, adding that "principals
have not even met to review any text of legislation on reciprocal
trade".

"It is no secret that POTUS has had frustrations with the unfair
imbalance of tariffs that put the US at a disadvantage," said Ms
Walters.

"He has asked his team to develop ideas to remedy this situation and
create incentives for countries to lower their tariffs. The current
system gives the US no leverage and other countries no incentive," she
said.

The proposal would require the executive branch to consult with the
Senate Finance and House Ways and Means committees and with executive
branch trade advisory committees, but these exterior institutions
wouldn't be required to formally sign off on any additional tariff
amounts the president might decide to impose.