The US-Based «New Global Order»: Abolition îf the WTO?

Andrey Alexandrovich Maltsev
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Andrey Alexandrovich Maltsev: Institute of Economics of the Ural Branch of the RAS, Ekaterinburg, Russia

Russian Foreign Economic Journal, 2026, issue 01, 71-85

Abstract: Amid the sharp turn in US foreign trade policy that began in early 2025, the modern architecture of international economic relations is undergoing a fundamental restructuring. Within the framework of the so-called “Trump Round” which began with the signing of the US-EU trade framework agreement on July 27, 2025, the concept of global American dominance is being increasingly pushed through trade and forceful coercion to open their domestic markets. Even the International Monetary Fund (IMF) has been forced to acknowledge this “rebalancing” as an action “inconsistent with established trade policy rules and norms”. This article seeks to analyze the root causes of the U.S. foreign trade policy shift and assess the key consequences of the “tariff surgery” strategy for both the United States and the global economy. The primary conclusion is that, with increased fragmentation of the global economy and growing global uncertainty, a comprehensive reconfiguration of economic policy is required – both “horizontally”(to enhance the private sector’s receptiveness to innovation) and “vertically” (to strengthen existing frameworks and explore new effective multilateral cooperation mechanisms). Such an approach is essential for bolstering resilience of the global economy against emerging challenges.

Keywords: WTO; international economic relations; global trade war; duties; tariff s; trade agreements; USA (search for similar items in EconPapers)
JEL-codes: F10 (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:alq:rufejo:rfej_2026_01_71-85

DOI: 10.64545/2072-8042-2026-1-71-85

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