Title: The Changes of US Trade Policy and the Evolution of the Multilateral Trading System: A Perspective on Power Shifts

Authors: Tu Xinquan, Liu Yuejun

Abstract: The evolution of the multilateral trading system reflects the outcome of power shifts. The changing role of the World Trade Organization (WTO) reflects the rise and fall of US hegemony and free trade ideology. The evolution of the WTO has progressed through a formative phase, a consolidation phase, and a pivotal juncture, and is currently navigating a period of order change. The current international order exhibits a tendency toward “polarization”. The China–US competition has expanded from economic rivalry to comprehensive confrontation, with US hegemony declining and China’s influence rapidly ascending. To safeguard national interests, the US trade policy has reverted to protectionism. No longer viewing the WTO as an effective tool for maintaining its international economic and trade hegemony, the US now seeks to decouple from China, promote the reshoring of US manufacturing, and rebuild a “de-Sinicized” international economic system by establishing exclusive “club-like” circles. China remains steadfast in its support of the multilateral trading system, upholding the principles of peaceful coexistence and independent development. While actively contributing to the reform of the WTO negotiation mechanism, it seeks new avenues for cooperation with the US within the multilateral trading system.

Keywords: Multilateral Trading System, WTO, Power Shifts, International Order, China–US Relations