Global trade has attracted a lot of attention lately though regrettably most of the headlines are negative. The current global trade environment is arguably the most complex in modern history and protectionist sentiment is on the rise (e.g. the US-China trade dispute, US-EU trade tension, the WTO under attack, etc.). The WTO has also reported a significant increase in trade barriers globally.1 On the US-China trade tensions, no matter how the negotiations conclude, the global trade order will never be the same and the new normal will have a lasting effect. Tariffs are now a tool used in negotiations for wider geopolitical objectives and no longer represent a stable and predictable environment as in the past. However, the same WTO report also indicated a significant increase in global trade facilitation measures.
Source: https://www.tihk.org.hk