Conversation on Global Trade at #FII5

The discussion on global trade at #FII5 highlighted the impact of COVID-19 on international trade and the strategies being pursued to strengthen global trade in the post-COVID environment. It emphasized the vulnerabilities exposed in supply chains during emergencies and the need to rethink and diversify supply chains, create strategic reserves, support recycling policies, and potentially relocate value chains. The conversation also addressed the challenges of domestic nationalism and protectionism versus the need for trade to generate growth and opportunity. There was a focus on reforming the international trade system, particularly the WTO, to build a new trade framework that is more resilient and sustainable. The importance of building back better for the world and rescuing those left behind was emphasized, stressing the need for predictability, consistency, and transparency in supply chains. The dialogue exemplified U.S.-France diplomacy in action and emphasized the need for global cooperation and partnership to address the challenges and opportunities in the evolving landscape of international trade post-COVID.