President Donald Trump’s administration has suspended contributions to the World Trade Organisation (WTO).
The World Trade Organisation is led by Nigeria’s Ngozi Okonjo-Iweala. This development was revealed by Reuters citing three trade sources.
The report also highlighted that the Trump administration is distancing itself from global institutions that it views as conflicting with its “America First” economic policies.
As part of a broader review of federal spending, the administration plans to withdraw from specific organisations, such as the World Health Organisation, and has reduced contributions to others.
Additionally, it was noted that the Geneva-based trade watchdog had a projected annual budget of 205 million Swiss francs ($232.06 million) in 2024.
The United States was expected to contribute approximately 11% of that amount, based on a fee system aligned with its share of global trade, according to public WTO records.
The report further stated that the United States’ 2024 and 2025 budgets for the WTO were put on hold, pending a review of its contributions to international organisations.
It was also noted that the United States would notify the WTO of the outcome at an unspecified date, according to two trade sources with direct knowledge of the meeting.
A third trade source confirmed their account, adding that the WTO was working on a “Plan B” in case the funding pause is extended, although they did not provide further details.
All three sources requested anonymity because the budget discussion was private, and the U.S. funding suspension has not been publicly announced.
The White House did not immediately respond to requests for comment.
Follow Parallel Facts on WhatsApp Channel:https://whatsapp.com/channel/0029VaCQSAoHgZWiDjR3Kn2E
