High-Level Dialogue: Toward a New Deal for Global Trade: A progressive agenda

The international trade regime is facing a period of profound transformation. Long-standing neoliberal trade orthodoxy is being gradually abandoned—even by the very nations that established it—as governments face mounting pressure to intervene in their economies to secure supply chains, protect domestic industries, and address rising inequality.

As major economies increasingly move toward unilateral actions, the role of the World Trade Organization (WTO) is being tested. The normalization of protectionism and the rise of authoritarian capitalist models are contributing to a fragmented global trade landscape. However, this moment of tension also presents a critical opportunity to rethink the system. The challenge is no longer just to critique the status quo, but to articulate affirmative, progressive principles that can guide trade policy across diverse political and economic contexts.

This event, co-organized by the Friedrich-Ebert-Stiftung and the International Institute for Sustainable Development (IISD), brought together critical academic perspectives and institutional leadership to stimulate a substantive debate on the continued necessity of multilateralism and the concrete pathways for its reform.

Key questions for discussion included:

• Principles for a new era: what are the affirmative principles of “progressive trade policy" that can work for both developed and developing nations?
• Navigating fragmentation: how can the multilateral trading system maintain its relevance in an era of increasing geopolitical rivalry and "minilateral" agreements?
• A new deal on trade rules: how must trade rules evolve to facilitate—rather than hinder—climate action, more equitable development, and social safeguards?
• Geneva’s role: how can the Geneva-based policy community lead the transition toward a more equitable and resilient global trade order?

Panel

Moderator:

• Nathalie Bernasconi-Osterwalder, Vice-President, Global Strategies and Managing Director Europe, IISD

Panelists:

• Prof. Joseph Stiglitz, Nobel Laureate in Economics
• Dr. Ngozi Okonjo-Iweala, Director-General, World Trade Organization (WTO)