Is trade becoming regionalized?

Policymakers in the United States, and to a lesser extent in Europe, are trying different tactics aimed at derisking, decoupling, and homeshoring global value chains. As a result, trade is becoming regionalized to a certain extent. But many other countries are still seeing the value of international trade and are concluding regional or bilateral free trade agreements with each other to facilitate trade and market access. How is global trade viewed from the perspective of such countries, for example Mexico and New Zealand, members of the Comprehensive and Progressive Transpacific Partnership (CPTPP)? How do they see the future of the CPTPP and the prospects for reform of the multilateral trading system?

Joining this episode of Trade Winds are:

HOST

Cecilia Malmström
Nonresident Senior Fellow, Peterson Institute for International Economics (PIIE)

GUESTS

Juan Carlos Baker Pineda 
Researcher, Gobierno y Economia, Universidad Panamericana, Mexico; Former Deputy Minister of Trade, Mexico

Vangelis Vitalis 
Deputy Secretary of Trade and Economy, New Zealand