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Trade Bites · May 21, 2025 · 40 min

World Trading System

The US has re-set its tariffs on goods imports according to a formula based on the size of that country’s trade surplus with the US – a move which has thrown all previous norms out the window. We are no longer in a world where tariffs and other aspects of trade policy are negotiated multilaterally – with the World Trade Organization as chief overseer. So where do recent developments leave the global trading system? Is the WTO, and the rules-based system that it oversees, now dead? Joining our host, Chris Horseman (Borderlex), to discuss these issues are Jennifer Hillman (Georgetown University Law Center), L. Alan Winters (CITP/ University of Sussex) and Farisa Zarin (Standard Chartered Bank).

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The US has re-set its tariffs on goods imports according to a formula based on the size of that country’s trade surplus with the US – a move which has thrown all previous norms out the window.
We are no longer in a world where tariffs and other aspects of trade policy are negotiated multilaterally – with the World Trade Organization as chief overseer.
So where do recent developments leave the global trading system? Is the WTO, and the rules-based system that it oversees, now dead? Joining our host, Chris Horseman (Borderlex), to discuss these issues are Jennifer Hillman (Georgetown University Law Center), L. Alan Winters (CITP/ University of Sussex) and Farisa Zarin (Standard Chartered Bank).

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