The number of subsidies is increasing worldwide, even more since the onset of the pandemic. From a domestic point of view, many subsidies provide much needed economic support during hard times, but some are harming the global trading system. Which ones are harmful—and how many are there in fact? Does the recent proliferation of subsidies mean we need a new global definition of what a subsidy is? Can we count on the World Trade Organization to update its rules on subsidies and countervailing measures?
Cecilia Malmström (Peterson Institute for International Economics) discusses these questions with her guests Chad P. Bown (PIIE), Simon Evenett (University of St. Gallen), Ignacio Garcia Bercero (Directorate General for Trade in the European Commission; University College London), and Julia Ya Qin (Wayne State University) in this episode of the PIIE discussion series Trade Winds on January 19, 2022. For more information, visit:
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