Free Trade Agreements, Trade Policy and Multilateralism

Abstract

Free trade agreements are generally presumed to enhance trade liberalization, but have effectively been used to enhance powerful corporate interests including non-trade matters. Trump’s actual trade policy may well be more pragmatic than his presidential campaign rhetoric. Nevertheless, international trade tensions continue to grow since the immediate aftermath of the 2008 global financial crisis. US-China trade relations were seen to be at the heart of these tensions. Although these may be resolved, trade multilateralism remains under threat.