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The WTO is a forum where governments negotiate trade agreements and settle trade disputes.
Essentially, the WTO helps countries sort out trade disagreements or issues. It aims to keep the global economy stable.

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WTO currently has 164 members, of which 117 are developing countries or separate customs territories

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If a member feels that their rights are being infringed upon they will bring the matter to the WTO. Independent experts appoint the situation based on their interpretations of the agreements and commitments.

If there is a dispute countries are to settle "out of court". The entire membership participates in a consensus to make a decision. The ministerial conference is every two years and the general council conducts business between these two year intervals.

The way they run and the current set of rules is from the 1986-94 Uruguay round negotiations. It added rules that focuses on intellectual property and trade in service & new procedures for settling disputes. The set is 30,000 pages with over 30 agreements
There has been more than 500 cases and 300 disputes dealt with since WTO was formed.

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The goals of the WTO are to open trade for the benefit of everyone involved in the organization, improve the welfare of its members, to lower trade barriers, and to mediate conflicts and disputes between governments.

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The WTO is the successor of GATTS (General Agreements on Tariffs and Trades). When the "Final Act" of GATTS was signed the WTO came to be.
WTO was created on January 1, 1995 in Geneva, Switzerland in a place called the William Rappard Center from where it still operates today.

Link:
(Virtual Tour)

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WTO is facing it's largest Crisis in 23 years (It's whole existence). Donald Trump does not think that The WTO can assist with the trade war between China and the U.S. and so he is challenging the rules. As a response the U.S. has blocked nominees of the decision making body in The WTO which could eliminate The WTO as a trade dispute forum because of the one missing U.S. member at the panel of three decision makers who sign off on rulings.

Rules being undermined-the addition of tariffs as a threat do not follow the procedures of the WTO. This could make the tensions between China and the USA worse which could escalate and cause president Donald Trump to pull out of the WTO.

Loop hole- There is a loophole in the WTO agreement that allows a country to do whatever is necessary to defend "essential security interest" which countries are using to justify tariffs which are causing a rise in disputes. This may push the WTO to the side because the countries are justifying tariffs due to this loophole.

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“Each member receives guarantees that its exports will be treated fairly and consistently in other members’ markets"

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“Each member receives guarantees that its exports will be treated fairly and consistently in other members’ markets"

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~https://www.wto.org/english/thewto_e/whatis_e/inbrief_e/inbr_e.htm

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“By lowering trade barriers through negotiations among member governments, the WTO’s system also breaks down other barriers between peoples and trading economies."

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“By lowering trade barriers through negotiations among member governments, the WTO’s system also breaks down other barriers between peoples and trading economies."

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https://www.wto.org/english/thewto_e/whatis_e/inbrief_e/inbr_e.htm

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Canada has been a member of The WTO since it first opened in 1995.  It allows Canada to have trade that functions as smoothly and predictably as possible.
It assures Canadians and all countries involved that they can receive secured supplies and a greater choice of finished products
Canada has a lot of participation in The WTO is part of Canada's trade secrets.

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Canada is trying to assist the WTO by bringing together representatives from Australia, Brazil, Chile, The E.U, Japan, Kenya, Korea, Mexico, New Zealand, Norway, Singapore, Switzerland who are all committed to supporting and strengthening the multilateral trading system. They work on a regular basis to improve the WTO in both the short and long term. This will lead to advancements in ideas and new suggestions that will be brought to the WTO for discussion.

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Three quarters of WTO's members are developing or among the least developed economies. The WTO makes special acceptations for them such as more time to implement commitments and increase trading opportunities.

In 2005 the WTO created Aid for Trade Initiative which helps growing economies build trade capacity, develop and improve the infrastructure, and improve the ability to benefit from trading.
WTO encourages and contributes to sustainable development, raises people's welfare, reduces poverty, and allows for peace and stability

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Cartoon addressing Donald Trump's impact on The WTO