The five-page document, leaked to Axios, includes detailed legislative language on "non-tariff barriers" and 'rates of duty'. Legislative Affairs Director Marc Short earlier this year said that the bill was "dead on arrival" and would not receive support from Capitol Hill. The White House emphasized that FART is far from complete.
Navarro replied to Short that he thought the bill would get plenty of support, particularly from Democrats, but Short told Navarro he didn't think Democrats were in much of a mood to hand over moreauthority to Trump. American consumers pay for tariffs. "Time to switch tactics".
Axios has obtained a leaked draft of a Trump administration bill - ordered by the president himself - that would declare America's abandonment of fundamental World Trade Organization rules.
With Russia's, there are already seven complaints filed against the United States before the worldwide body, after doing so Canada, the European Union, India, China, Mexico and Norway. Trump directly requested this legislation and was verbally briefed on it in May. In 2017, acronym bill titles to emerge from the Capitol included the GROW Act, the EGO act (on oil paintings), and the CARE Act, according to just one count.
The recovery attempt comes following the release of a report from the Institute for Supply management showing growth in US manufacturing activity unexpectedly accelerated in the month of June.
The bill - the existence of which has not been independently confirmed - would be a dramatic shift in trade policy with wide-reaching impacts, but it was the name of the proposed bill that caught people's attention.
The European Commission, the EU executive body that handles trade for the bloc, said on Monday it was trying to convince its USA counterparts that imposing such tariffs would be a mistake.
"There is no doubt that we could improve the WTO, but to say that the United States is a "loser" in a world led by this organization is simply inaccurate", Fratto added.
White House spokeswoman Lindsay Walters told Axios that the administration was not preparing to roll out such legislation.
Donald Trump has been ridiculed over the naming of a leaked draft bill outlining how the U.S. would abandon key World Trade Organisation (WTO) rules. He says he's not "planning anything now" but if the WTO doesn't treat the U.S. properly, "we will be doing something".
The U.S. diplomat at the meeting said the matter was already the subject of formal disputes at the WTO, so it should not be on the committee's agenda, the official who attended the meeting said.