COVID-19 and global trade – is the system immune to the pandemic?

Trade Bites

COVID-19 has had a profound effect on trade. A global recession is always going to have an impact on trade volumes, but this pandemic has had the effect of completely choking off demand for some goods and services, while pushing demand for others through the roof. And that has posed acute trade policy challenges. Is it ever right to impose controls on exports of sensitive products? Were we naive to put so much faith in global markets and our ability to source the goods and services we need from around the world? And when the pandemic finally starts to ease, what sort of a global trading system will we be left with? To discuss all this and more, Chris Horseman is joined by Michael Gasiorek, Professor of Economics and Fellow of the UKTPO; Allie Renison, Head of EU and Trade Policy at the Institute of Directors; and Simon Evenett, Professor of Economics and an Associate Fellow of the UKTPO.