Fundamental changes to global value chains are afoot. This column argues that over the next decade the underlying cost structures driving their location could change dramatically. It presents a recent report on the political economy of value chains and the implications for developing countries and trade policy.

In the late 1980s, developing nations that had eschewed all forms of liberalisation began to cut their import tariffs unilaterally. This column explains how the communication-technology revolution was the shock that altered the political-economy equilibrium against infant-industry protection and in favour of joining international supply chains which involved tariff liberalisation.

As the global economy entered a crisis not seen since the Great Depression, many feared a return of 1930s-style protectionism. This column asks why many countries avoided this fate, focusing on trade policy in the US and EU.

The Trans-Pacific Partnership is back on course having received interest from the Canada, Japan, and Mexico in recent months. This column argues that as changes to the TPP start to seem more likely, there may be trade effects in anticipation. In the face of potential trade diversion, the column urges European trade policymakers to strengthen the EU’s trading ties with the Asia-Pacific region, preferably by reviving global trade talks.

The EU is redesigning its rules on preferential trade access for developing and emerging economies. This column outlines the likely winners and losers and argues that in order to help developing countries integrate into the world economy much more creative policies are needed.

Two decades of spectacular growth and industrialisation in emerging economies has transformed the world economy, presenting US trade policy with new challenges. This is the first of two columns that consider one aspect of the new challenges – the ways in which the Obama Administration can secure better access for American exporters.

In response to Dr. Cernat’s call for feedback on the EU’s trade policy, this column calls on Europeans and Americans to rethink their trade policies. It argues both can meet 21st century needs only by collaborating, mostly at the WTO. Trade policy challenges are also an opportunity to make the system more coherent and meet the goals of expanding trade, enhancing human welfare and increasing employment.

EU trade policy has accomplished little of substance during the past decade. This column, a contribution to the ongoing VoxEU debate on The Future of EU Trade Policy, identifies five reality checks that should be taken on board as the European Commission and the Member States reformulate their approach to commercial relations.

This autumn, the European Commission will set out the future direction for the EU’s trade policy. In this column its Chief Trade Economist calls on Vox contributors to engage in the debate about what that direction should be.