The Trump admin told the WTO that a trade deficit counts as a balance-of-payments crisis justifying tariffs, but international trade law defines such crises by falling monetary reserves, not trade gaps. The theory amounts to a blank check for limitless tariff power.
https://ow.ly/1p8r50ZawNr
The Trump administration is digging in its heels at the WTO on a legal strategy that has already failed in a US federal court. The administration desperately wants courts and trading partners to believe it is acting within the rules, but its bad faith filing demonstrates otherwise.
