The globalization of trade fueled unprecedented economic opportunities and technological advances that pulled hundreds of millions of people out of poverty and accelerated prosperity in the developed world. Has it reached its limits? The 2020 pandemic sparked a new wave of trade nationalism. The war in Ukraine entrenched fears of disruption. Have the WTO’s precepts for global trade become obsolete? Will new regional alignments prosper or become a deepening battleground of competition? What nations and industries stand to win and lose?