Economics
U.S. Plans a ‘Broader Reset’ of Its WTO Tariff Commitments
- Lighthizer discusses plan to redo U.S.’s 3.4% WTO tariff rate
- Election-year gambit would unsettle a WTO already on the ropes
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President Donald Trump’s trade chief, Robert Lighthizer, will tell U.S. lawmakers Wednesday that the time has come to renegotiate America’s fundamental tariff commitment at the World Trade Organization.
“Currently, outdated tariff determinations are locked in place that no longer reflect members’ policy choices and economic conditions,” Lighthizer said in prepared remarks to be delivered to the Senate Finance Committee starting at 3 p.m. in Washington. He’s scheduled to testify earlier in the day to the House Ways and Means Committee.