Donald Trump unlikely to start an outright global trade war

The world should prepare itself for the erosion of the rules-based trading system enshrined in the World Trade Organisation, writes Daniel Gros.

The world should prepare itself for the erosion of the rules-based trading system enshrined in the World Trade Organisation, writes Daniel Gros.

Free trade seems to have few supporters these days. Though actual trade volumes are recovering from the post-crisis recession and drop in commodity prices, “globalisation” has become increasingly contentious, as exemplified by the election of US President Donald Trump on the back of a promise to rip up international agreements and get tough on trade partners.