Recent Developments in International Trade Policy

Recent developments in international trade policy show significant changes driven by various global factors, including the COVID-19 pandemic, geopolitical conflicts, and technological transformation. Trade policy has become a major focus for ensuring the economic resilience of countries around the world. One of the main developments is the shift from multilateral to bilateral and regional approaches. Trade agreements such as RCEP (Regional Comprehensive Economic Partnership) and USMCA (United States-Mexico-Canada Agreement) demonstrate efforts by countries to increase cooperation in their regions while reducing dependence on global trade organizations such as the WTO (World Trade Organization). This creates a risk of fragmentation in the international trading system. The COVID-19 pandemic has also encouraged countries to strengthen their economic resilience. The new policy focuses on reducing dependence on external supply chains. Some countries are starting to implement “nearshoring” policies, which means moving production closer to domestic markets. This initiative aims to reduce the risk of logistical disruptions that have occurred during the pandemic. Digital transformation in international trade is also in the spotlight. E-commerce is booming, and countries are now prioritizing policies that support digital trade. Regulations related to data protection and e-commerce are becoming increasingly important, with many countries seeking to create legal frameworks that can accommodate this growth. Cooperation in terms of technology standardization is also a main focus. Climate policy is increasingly integrated into trade agreements. With increasing awareness of climate change, countries are starting to consider sustainability aspects in their trade policies. Trade agreements are expected to encourage environmentally friendly practices, while maintaining fair market access for sustainable products. In addition, trade tensions between the United States and China also continue, triggering stricter protectionist policies. Tariffs and non-tariff barriers have become a weapon in this global competition, impacting companies operating in both countries. Technological competition, especially in the semiconductor and high-tech sectors, further complicates this landscape. In response to these challenges, countries are looking for ways to increase international cooperation. Forums such as the G20 and ASEAN play an important role in discussing pressing trade issues, including post-pandemic economic recovery and WTO reform. Stakeholders, from governments to companies, are increasingly aware of the need for continuous adaptation to dynamic and responsive trade policies. International trade policy is now more than just an economic matter; it is an integral part of diplomatic strategy and foreign policy.