The logic for multilateral cooperation in trade and beyond becomes stronger, not weaker. A new governance forum will emerge, where negotiating will take place in country clubs instead of among members at the WTO. However, by breaking protocol, the US president has gained substantial bargaining...

The authors analyze the economic consequences of the Economic and Trade Agreement (ETA) between China and the USA, also referred to as the Phase-I Deal, which was signed on January 15, 2020. It is a highly asymmetric treaty which commits China to open its markets and to purchase large quantities...

Following the upcoming U.S. elections, the EU should prioritize defending the multilateral trade system, as a collapse in global economic cooperation could impact Europe up to four times more than direct U.S. tariffs alone. Potential U.S. trade policies under either a Harris or second Trump...

We quantify the partial and general equilibrium effects of GATT/WTO membership on trade and welfare. Using an extensive database covering manufacturing trade for 186 countries over the period 1980-2016, we find that the average impact of GATT/WTO membership on trade among member countries is...

In his seminal paper, Rose (2004) concluded from a gravity-type study of bilateral trade that the GATT/WTO does not play a strong role in encouraging trade. Rose looks at countries where the amount of trade was positive to start with (intensive margin). In this paper, we present a...

We quantify the partial and general equilibrium effects of GATT/WTO membership on trade and welfare. Using an extensive database covering manufacturing trade for 186 countries over the period 1980-2016, we find that the average impact of GATT/WTO membership on trade among member counties is...