OREANDA-NEWSA possible US exit from the World Trade Organization (WTO) will make its continued existence meaningless. This opinion was expressed by the press secretary of the President of the Russian Federation Dmitry Peskov, answering journalists' questions.

“Certainly, the existence of a system-forming economic organization, universal after the largest economy of the globe leaves it, will be a big question. This is obvious”, Peskov said. At the same time, commenting on the words of US President Donald Trump about the possibility of such a step, Peskov emphasized that "this is the internal business of the United States" and recalled that "Russia is a member of the WTO with all the ensuing consequences".

On Tuesday, August 13, speaking to supporters in the state of Pennsylvania, US President Donald Trump announced that Washington could withdraw from the WTO if necessary. The American leader is confident that for many years other countries, including China, have used the WTO to their advantage against the United States. According to Trump, the situation changed after he became president.

Earlier, Trump repeatedly criticized the organization and said that he was ready to decide on withdrawal from it if the WTO did not improve its work. The President noted that the WTO has been "mistreating" America for many years, and it needs to change its policy. According to the president, the organization provided preferences to China.

The WTO was established on January 1, 1995 on the basis of the General Agreement on Tariffs and Trade, concluded in 1947. Its members are more than 160 countries, since 2012 Russia joined the WTO. The headquarters of the organization is in Geneva. At present, the Russian side is concerned about the fate of the organization.