WTO and IMF economists develop new indicator to measure global trade policy dynamics

Research in developing a new Trade Policy Activity (TPA) index by a group of WTO and IMF economists reveals a marked pick-up in trade policy activity from around 2019-2020, reflecting increased interventions in trade for a range of policy objectives. The change also corresponds to the period of the COVID-19 pandemic, heightened trade policy tensions among large economies, and rising geopolitical risks. Future development of the indicator can fill an important information gap by providing policymakers with an early alert of possible policy shifts.

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