Plurilateralism and Regionalism as Alternatives to Multilateralism in Global Trade

Hung Q. Tran

No 2451, Policy briefs on Economic Trends and Policies from Policy Center for the New South

Abstract: The multilateral, rule-based trading system underpinned by the World Trade Organization (WTO) has been undermined by the unilateral imposition of U.S. tariffs. Crucially, the foundational principle of non-discrimination among WTO members has been abandoned. While many countries have attempted to negotiate with the U.S. to resolve tariff disputes, they have simultaneously sought to deepen trade ties with each other through plurilateral and regional trading arrangements. In this sense, plurilateralism and regionalism can be viewed as alternatives to multilateralism in reconfiguring international trading relationships. These approaches can be useful, though not without limitations, and they will continue to drive both trade diversion and trade creation during and after the tariff war.

Date: 2025-08
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