New Challenges to the Modern International Trade System

Abstract

The article analyzes the new challenges facing the modern international trade system. It is revealed that the actions of the USA against their trade partners ruin the concept of free trade. It is found that the current U.S. industrial policy, growing protectionism and regionalization trends lead to the collapse of the modern international trade system. The changes in export quota show that the world is moving in the direction of deglobalization. It is concluded that the era of trade compliance, freedom and liberalization in international trade is over, and the idea of a global trade system seems unrealistic in the current conditions.