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R.I.P. TPP, time to turn back to the WTO

Global multilateral setting best to revive faltering trade cooperation

Container ships and other vessels sit anchored near the ports of Los Angeles and Long Beach on Dec. 2, 2016. (Reuters)

International trading relationships are more uncertain today than they have been in a long time. The inability of the World Trade Organization to bring closure to Doha round negotiations after more than a decade and a half has undermined already shaky faith in multilateralism.

The notion that mega-regional deals among several large trading partners could serve as an alternative, or perhaps a pathway, to global trade cooperation has taken a hard knock. The 12-nation Trans-Pacific Partnership pact is moribund for the foreseeable future, perhaps even dead.

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