World needs either multilateral trading system or bilateral pacts: USTR By Reuters

China says only small number of firms moving supply chains out of the country

WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer on Thursday said the world needed either a multilateral system to govern global trade or a series of bilateral agreements, but it did not make sense to have both underway at the same time. “We should have a multilateral system or a bunch of bilateral systems,” Lighthizer told an online event hosted by the London-based Chatham House think tank.
“To be honest, I can go either way. But we can’t have people who … profess to multilateralism and then go around basically being the biggest proponents of a bilateral system.”
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