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Plurilateral approaches to managing crossborder industrial policy-related spillovers
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1028-3625
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EUI; RSC; Working Paper; 2025/27; Global Governance Programme
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HOEKMAN, Bernard M., TAS, Bedri Kamil Onur, TICKU, Rohit, Plurilateral approaches to managing crossborder industrial policy-related spillovers, EUI, RSC, Working Paper, 2025/27, Global Governance Programme - https://hdl.handle.net/1814/92967
Abstract
Major trade powers increasingly resort to unilateral industrial policies and trade and investment interventions. In this paper we argue that identifying the underlying policy objectives and the goals of instruments used to pursue them, distinguishing between ‘make-it-here’, ‘don’t-trade-with-them’ and ‘make-it-our-way’ interventions, is useful in assessing the scope for agreements to manage associated cross-border spillovers. Given US antipathy to using the WTO as a negotiation platform, prospects for multilateral agreements are limited. Network-based assessments of the policy objectives and applied instruments across countries suggest scope exists for open plurilateral agreements spanning at least one large trade power. Linking regional trade agreements and pursuing issue- or sector-specific production or regulatory clubs offer pathways for WTO members seeking to sustain a rules-based trade order and attain national policy objectives more effectively and efficiently.