Work

US tariff policy and a transformation of global trade architecture

Year: 2025

Type: article

Abstract: The second Trump administration’s tariff regime has triggered a profound transformation of the global trade architecture, extending beyond traditional protectionism to a systematic dismantling of multilateral institutions. This paper examines how the collapse of trust in US trade commitments and the erosion of export-led development pathways across the Global South are catalyzing the construction of alternative institutional frameworks. Through analysis of the EU–CPTPP partnership initiative, the acceleration of Asian regionalism, and BRICS expansion, it demonstrates that states are engaging in purposeful institutional innovation rather than descending into fragmentation. The findings indicate that the coming years constitute a critical window for determining whether emerging regional arrangements evolve into inclusive multilateral alternatives or harden into competing economic blocs. Sustaining open trade in this environment will depend on building coalitions grounded in predictable, rules-based governance that move beyond reactive responses to U.S. disruption.

Source: Asia and the Global Economy

DOI: 10.1016/j.aglobe.2025.100120

Author: Won-Ho Kim

Institutions: Liaocheng University, Hankuk University of Foreign Studies

Language: English

Topic: Global Political and Economic Relations

Subfield: Political Science and International Relations

Field: Social Sciences

Domain: Social Sciences

SDG: Peace, justice, and strong institutions

Open Access status: gold

Estimated APC paid: $1,500