From World War Trade to domino regionalism: The emergent global trading order

Forumul Economic Mondial de la Davos

President Trump’s April 2025 tariffs triggered global trade conflict. This column introduces “World War Trade: Conflict, Containment, and the Emergent World Trading Order”, a new CEPR Rapid Response book arguing that while the old trading order was destroyed, a growing share of global commerce is drawn into existing regional trade arrangements. Driven by domino regionalism, this process is producing a new system: a multi-hub ‘solar system’ of interconnected, rules-based regional trade blocs.