The US has re-set its tariffs on goods imports according to a formula based on the size of that country’s trade surplus with the US – a move which has thrown all previous norms out the window.

We are no longer in a world where tariffs and other aspects of trade policy are negotiated multilaterally – with the World Trade Organization as chief overseer.

So where do recent developments leave the global trading system? Is the WTO, and the rules-based system that it oversees, now dead? Joining our host, Chris Horseman (Borderlex), to discuss these issues are Jennifer Hillman (Georgetown University Law Center), L. Alan Winters (CITP/ University of Sussex) and Farisa Zarin (Standard Chartered Bank).