Trade in turbulent times

Abstract

The European Union has stepped up its negotiation of new-style bilateral agreements (most recently, Japan, Singapore, Vietnam, Mexico, Mercosur, Australia, New Zealand) which, beyond the Union’s commitment to open, rules-based trade, enable it to pursue and propagate its values. The EU remains committed to the multilateral agenda and, in particular, the WTO and its mechanisms, while recognising that the WTO must be reformed, particularly to adapt it to the reality of China’s growth and non-market economy status. The EU has also sought to correct imbalances in its own bilateral trading relationship with China. The EU must also deal, both bilaterally and in the WTO context, with an unfathomable and unpredictable United States.