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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

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Kevin McCarthy's rude awakening

House Minority Leader Kevin McCarthy. Photo: Mark Wilson/Getty Images

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Why it matters: The House Republican leader had been hoping to use this year to build toward taking the majority in 2022, but his efforts to bridge intra-party divisiveness over the Capitol siege have him taking heat from every direction, eroding his stature both with the public and within his party.

The next big political war: redistricting

Illustration: Aïda Amer/Axios

Democrats are preparing a mix of tech and legal strategies to combat expected gerrymandering by Republicans, who are planning to go on legal offense themselves.

Why it matters: Democrats failed to regain a single state legislature on Election Day, while Republicans upped their control to 30 states' Houses and Senates. In the majority of states, legislatures draw new congressional district lines, which can boost a party's candidates for the next decade.

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Vaccinations, relief timing dominate Sweet 16 call

Sen. Joe Manchin (D-W.V.) speaks during a news conference in December with a group of bipartisan lawmakers. Photo: Caroline Brehman/CQ-Roll Call, Inc via Getty Images

Vaccine distribution, pandemic data and a cross-party comity dominated today's virtual meeting between White House officials and a bipartisan group of 16 senators, Senator Angus King told Axios.

Why it matters: Given Democrats' razor-thin majority in both chambers of Congress, President Biden will have to rely heavily on this group of centrist lawmakers — dubbed the "Sweet 16" — to pass any substantial legislation.