The Limits of Multilateralism: Incorporating (Some) Unilateral Free Trade into the Trading System

Key Points

• Incorporating unilateral free trade can reshape existing trade agreements, impacting global economic policy.
• Key evidence suggests that unilateral approaches may yield mixed outcomes in multilateral contexts, emphasizing the nuance of implementation.
• The analytical framework evaluates the interaction between unilateral free trade and existing multilateralism, providing nuanced insights.
• These findings highlight the potential for significant shifts in global trade dynamics, calling for adaptations in policy frameworks.