Trump, who began the standoff last year complaining about unfair Chinese trade practices, has specifically blasted the WTO for slighting US trade interests to the benefit of China.
That overhaul is expected next year at the earliest, assuming a consensus can be reached among the 127 countries taking part in the talks.
Key trade ministers from countries including from India would meet next month on the sidelines of the World Economic Forum Summit at Davos to discuss the road ahead for the WTO.
Here are some of the main developments at the Group of 20 summit, which wrapped up Saturday.
Prabhu said that there were challenges before the global trade and their impact would have implications on the world economy.
China considers that "no substantive effort and progress has been made" by the US to fulfill its implementation obligation.
The use of anti-dumping duties are permitted under international trade rules as long as they adhere to strict conditions, and disputes over their use are often brought before the WTO.
Trump made the threat as Washington presses challenges at the WTO against trading partners that have fought back against tariffs on importers that were imposed by the Trump administration.
China's commerce ministry accused Washington of erecting trade barriers while subsidising its domestic industry.
"The era of economic surrender for the United States is over, it's over," Trump said at a White House 'Made in America' event, as he demanded fairness from World Trade Organization.
The report issued by the Bertelsmann Foundation comes amid a deepening trade dispute between China and the United States which has engulfed other major trading partners.
The Trump administration has criticized the WTO as unable to deal with the problems posed by China, suggesting a challenge there might have little impact in Washington.
Trump has complained frequently that the United States is treated unfairly in global trade and has sharply criticized the WTO for letting that happen.
EU struck back at the US a day after President Trump's administration angered its major allies by slapping duties of 25 per cent and 10 per cent on imports of aluminium and steel.
US President Donald Trump decided in March to impose steep tariffs on steel and aluminum imports, primarily to target China.