Repositioning in the global trade policies

The adverse trends of global trade openness that have recently emerged from major players in the global economy have been a major shock to the global trading system. These changes are in particular the UK's decision in 2017 to leave the European Union with what has become known as the "Brexit", the exit or suspension of US participation in a number of international free trade agreements, and the imposition of customs duties on certain imported goods in violation of the trade agreements to which they have committed.