 (Olivier Douliery/Bloomberg News) By Damian Paletta and Ana Swanson The Trump administration on Wednesday announced a sharp break from U.S. trade policy, vowing it may ignore certain rulings by the World Trade Organization if those decisions infringe on U.S. sovereignty. The new trade approach, which was sent to Congress Wednesday, could affect businesses and consumers worldwide, with the White House suggesting the United States could unilaterally impose tariffs against countries it thinks have unfair trade practices — paving the way for a more adversarial relationship with China and other trading partners — and punish companies that relocate overseas and then attempt to sell products on the U.S. market. "It is time for a more aggressive approach. The Trump Administration will use all possible leverage to encourage other countries to give U.S. producers fair, reciprocal access to their markets," the document said. The 336-page report included a section entitled "The President's Trade Policy Agenda," which outlined some of the possible breaks from the WTO. The approach offers President Trump an opportunity to make good on his campaign promises of an "America first" economic nationalism, as he has said U.S. economic policy needs to create new jobs for American workers and prevent companies from moving operations overseas.
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