Publication

This paper argues that as trade agreements are increasingly taking place on the bilateral and regional level, the WTO and the multilateral trading system in general are increasingly losing their relevance to the international community. The authors identify trade agreements which give preference to a limited number of members, a fragile political consensus on international trade, and a shift in agreements from tariffs to regulations as the main variables responsible for this development. The paper ends by providing recommendations to renew the significance and relevance of multilateralism.