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South Korean farmers protest the WTO in Hong Kong in 2005. Photo: MN Chan/Getty

President Trump said Monday that the World Trade Organization (WTO) has treated the U.S. "very badly" and if nothing changes "we will be doing something."

Why it matters: The WTO regulates 98% of global trade, and is largely seen as beneficial to the United States. Exiting the organization would likely raise prices on imported goods and make it more difficult for exporters.

By the numbers:

  • The United States wins 87% of the cases it brings to the WTO against other countries.
  • The U.S. files more cases with the WTO than any other nation, ahead of the EU and Canada.
  • Other countries file more cases against the U.S. than any other nation, ahead of the EU and China.
  • The U.S. loses 75% of the cases filed against them in the WTO. These winning and losing records are both better than average for members.
  • It takes six months for a country to file a withdrawal notice with the WTO and for it to go into effect, if the U.S. were to exit the organization.
  • Two-thirds of cases are settled between countries before they reach a WTO panel.
  • Trade made up 27% of the U.S. GDP in 2016.
  • In 2016, then-candidate Donald Trump said the WTO was a "disaster" and proposed a 35% tariff on Mexican imports and 45% on Chinese imports. Countries subject to Trump's steel and aluminum tariffs are filing challenges with the WTO, saying they violate terms of the agreement.

Don't forget: Membership in the WTO grants the U.S. preferential access to markets of other members, even if relations are geopolitically rocky. If the U.S. were to leave, they would have to negotiate lots of other free trade agreements; current free trade agreements only cover 40% of trade.

Go deeper: Trump's private threat to upend global trade

Go deeper

Caitlin Owens, author of Vitals
30 mins ago - Health

The U.S. is approaching the vaccine hesitancy "tipping point"

Expand chart
Data: CivicScience; Chart: Axios Visuals

The U.S. will probably run out of adults who are enthusiastic about getting vaccinated within the next two to four weeks, according to a KFF analysis published yesterday.

Between the lines: Vaccine hesitancy is rapidly approaching as our main impediment to herd immunity.

Ben Geman, author of Generate
53 mins ago - Energy & Environment

The finance sector links arms on climate

Illustration: Eniola Odetunde/Axios

A big, UN-backed umbrella group of banks, asset managers, investors and insurers launched Wednesday to boost private clean tech finance and press polluting industries that use their services to cut emissions.

Why it matters: The Glasgow Financial Alliance for Net Zero (GFANZ) is the broadest financial industry effort yet on climate change.

Scoop: Chris Christie friends believe he's running in 2024

Chris Christie at the White House in 2020. Photo: Chris Kleponis/Polaris/Bloomberg via Getty Images

Former New Jersey Gov. Chris Christie is seriously considering running for president in 2024, three people familiar with his thinking tell Axios.

Driving the news: While Christie isn't saying anything publicly about his thinking — besides telling radio host Hugh Hewitt he's not ruling it out — people close to him have an early sense of the rationale and outlines of a potential candidacy.