By Enyichukwu Enemanna
The United States has cut financial contributions to the World Trade Organisation (WTO) as part of President Donald Trump’s “America First” economic policies.
“The Trump administration is retreating from global institutions it sees as at odds with its ‘America First’ economic policies.
“It plans to quit some, such as the World Health Organisation, and has cut contributions to others as part of a broad review of federal spending,” Reuters said in a report citing three 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.
It 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 trade sources with direct knowledge of the meeting.
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.
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.
In 2020, the United States, under President Trump, had opposed the emergence of Nigeria’s Dr. Okonjo-Iweala as Director-General of the WTO, instead favouring a South Korean nominee, Yoo Myung-hee.
