In this Policy Brief, Wolff argues that the European Union must step up to lead the world trading system at a moment of historic disruption. With the United States retreating into a power-based approach to trade and China relying heavily on state intervention, Wolff contends that the European Union—the world's largest trader—has both the capacity and the responsibility to fill the void. Drawing on the spirit of postwar institution-building at Bretton Woods, he sets out a strategic roadmap for EU trade policy to 2050: defending the World Trade Organization's rules-based framework; pursuing closer alignment with members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP); expanding trade rules to cover climate, artificial intelligence, and food security; and resisting trade coercion through collective action.
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