U.S. Declares End of WTO System…“Establishing a New Trade Order with the Trump Round”

Greer, USTR Representative, Claims in NYT Op-Ed on the 7th

Securing Legitimacy of Trump Tariffs with Reciprocal Tariff Implementation

Jamieson Greer, the U.S. Trade Representative (USTR) overseeing American trade policy, on the 7th (local time), virtually declared the conclusion of the World Trade Organization (WTO) system to coincide with the implementation of the U.S.'s reciprocal tariffs. He asserted that the Trump administration's tariff policies represent a new trade order, claiming this would enable the revival of manufacturing.

In his New York Times (NYT) op-ed, Greer stated that the Bretton Woods system, initiated to rebuild the global trade framework, eventually led to the establishment of the WTO—causing the U.S. to abandon tariff protections for its core manufacturing industries. He criticized, “Elites on Wall Street and in Washington were preoccupied with offshoring production to profit from global arbitrage.”

He added that he intends to reform this global trade order, which has been disadvantageous to America, stating, “We are now witnessing the Trump Round.” Just like the previous “Kennedy Round”, “Tokyo Round”, and “Uruguay Round” that fostered global free trade via tariff reductions, President Trump’s tariff policy has been dubbed the “Trump Round.” Greer further asserted the legitimacy of U.S. trade policy by saying, “A generational project is needed to reindustrialize America, and there is little time.”

Particularly, Greer highlighted the trade agreement announced by President Trump with the European Union (EU) on the 27th of last month in Turnberry, Scotland, describing it as a “historic agreement that is fair, balanced, and aligned with concrete national interests, not the ambiguous aspirations of multilateral bodies.” He stressed, “The new economic order (Trump Round) was solidified in Turnberry, and this order is emerging in real time.”

Such an op-ed by Greer is seen as an attempt to blunt criticism of Trump’s tariff policies amid growing concerns over a slowdown in the U.S. economy. He warned, “Some argue the president’s measures are too strong or implemented too hastily, or that tariffs will cause too much short-term disruption,” and added, “(Currently) it is an emergency, and there is no time to waste.”

New York—Shin-Young Park, Correspondent nyusos@hankyung.com