Outlook on Global Trade

The last few years have seen increased rhetoric from several countries opposing existing trade arrangement with new trade tariffs and other protection measures being introduced. This escalation has also questioned the existing multilateral and regional mechanisms and their ability to address these types of challenges. Are we witnessing a new round of trade war and what are the expected consequences on global trade and economic growth? Is there an emerging new trade patterns and cooperation model and what are the options available for organizations and government around the world?