The global trade system is straining under rising protectionism and deepening fragmentation. With the WTO’s 14th Ministerial Conference approaching, ICC is working to ensure the multilateral trading system remains credible, predictable and fit for today’s economy.
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The rules and institutions that have underpinned international trade for decades is under mounting pressure.
Geopolitical tensions and protectionism are on the rise, as is a web of overlapping trade agreements which add to the cost and complexity.
Against this backdrop, the multilateral framework has struggled to keep pace with how trade actually works today – increasingly digital, services-driven and shaped by more complex business models.
ICC helps shape this agenda from the perspective of business. As the institutional voice of global business, we bring a cross-sectoral, global perspective to multilateral trade discussions at the WTO and across forums such as the G7, G20 and Asia-Pacific Economic Cooperation (APEC). We embed private-sector priorities, evidence and solutions into negotiations and policy reforms.
Revitalising this system is not optional. It is essential to restoring predictability, managing fragmentation and ensuring that global trade rules remain credible and effective for businesses and governments alike.
ICC Global Trade and Investment Commission
Valerie Picard, ICC Head of Trade
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At the centre of the effort to revitalise the global trade system sits the World Trade Organization (WTO). Meaningful reform of the WTO is critical, but the challenge extends beyond institutional fixes. It lies in how governments design industrial policy, how regional agreements interact with multilateral rules and whether new measures governing digital trade and environmental – like CBAM and the circular economy – evolve in ways that support openness rather than deepen fragmentation.
The 14th WTO Ministerial Conference in March 2026 represents a pivotal opportunity to mobilise political will and secure concrete outcomes. But revitalising the global trading system requires sustained engagement. Our focus is long-term: ensuring multilateral trade rules evolve to support growth, resilience and development in a rapidly changing global economy.
The multilateral trading system depends on clear, enforceable rules that apply equally to all. For business, these rules are what turn openness into operational certainty –shaping investment decisions, supply chains and day-to-day cross-border transactions. Without a functioning rules-based framework, businesses face growing uncertainty, discriminatory treatment and fragmented market access. ICC calls on WTO Members to reaffirm their commitment to multilateral disciplines, restore an effective dispute settlement mechanism, and resist unilateral measures that undermine agreed rules. Predictability is not negotiable; it is the foundation on which cross-border trade and investment depend.
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The WTO’s 14th Ministerial Conference must go beyond declarations of intent and towards the launch a structured, time-bound reform process with defined milestones and deliverables. This includes prioritising cross-cutting systemic issues – such as plurilateral agreements, decision-making, and special and differential treatment – to unblock progress on other reform issues. As part of this process, Members should commit to a standstill on new trade-restrictive measures that violate WTO rules or improve a Members’ position during reform negotiations. If consensus is elusive at MC14, a coalition of willing members should lead the way forward. ICC urges Members to use MC14 as a launchpad to initiate a credible reform process that delivers concrete outcomes within an agreed timeframe.
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The moratorium on customs duties on electronic transmissions has been foundational to the growth of the digital economy. Allowing it to lapse would fragment digital trade, increase costs for businesses and consumers, and disproportionately harm MSMEs and developing economies. ICC calls for the unconditional renewal of the moratorium at MC14, ensuring that digital commerce remains open, accessible and free from new barriers.
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Effective trade policy cannot be designed in isolation from those it impacts most. Business brings real-world evidence, operational expertise and solutions that can bridge political divides and deliver practical outcomes. ICC calls on WTO Members to formalise mechanisms for business engagement in reform discussions and negotiations – not as observers but as active contributors. The private sector must be at the centre of both the reform process and the results it produces.
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A new UN tax model provision risks triggering an estimated US$241 million in annual government revenue losses for the Global South. Any revenue gains from the new provisions would be fully offset, resulting in a net fiscal loss. This Oxford Economics report, commissioned by ICC, is the first quantitative assessment of the potential economic and fiscal impacts of the new Article 12AA on cross-border services.
Prevailing trade tensions and eroding trust in the rules-based multilateral trading system pose a serious threat to shared prosperity. Developed through extensive global consultations, the ICC Compact for Trade, Growth and Jobs sets out practical solutions – from quick wins for immediate implementation to more ambitious, longer-term reforms – that governments and businesses can take to address persistent trade challenges and unlock global trading potential. As the backbone of the global economy, the Compact places particular emphasis on the barriers faced and solutions needed to support small- and medium-sized enterprises in cross-border trade.
The full value of the World Trade Organization (WTO) rarely makes headlines. But in reality, it is a cornerstone of national competitiveness. Its agreements, daily technical work and tools quietly make the trading system work day to day for businesses. These practical benefits are often unseen, but essential for every economy.
Ahead of the 14th Ministerial Conference (MC14), ICC calls on members of the World Trade Organization (WTO) to launch a structured, time-bound WTO reform round and preserve the Moratorium on Customs Duties on Electronic Transmissions – essential steps to restore stability and confidence in global trade.
Two studies commissioned by ICC and conducted by Oxford Economics highlight the devastating effects of a collapse of the WTO system. The 2024 report shows the severe impact on developing economies across regions. The 2025 follow-up report provides a detailed, country-level analysis across ten developing economies — Brazil, Cameroon, China, Egypt, Guatemala, India, Indonesia, South Africa, Türkiye, and Vietnam — confirming how a breakdown of the WTO would have damaging country-level consequences.
New ICC brief outlines why tariffs on cross-border services are unworkable and what policymakers should do instead.
The International Chamber of Commerce (ICC) conducted a pulse survey of its global business network from 3 -11 April 2025. The Survey assesses the impact of newly announced U.S. tariff measures.
A rules-based global trading system, with the World Trade Organization’s (WTO) most-favoured nation (MFN) principle at its core, provides the stability and predictability that businesses require for strategic planning, investment decisions, and day-to-day operations.
Business leaders worldwide have shared crucial insights with ICC on key trade policy challenges, highlighting the need for predictability in global markets.
In the lead up to the 13th World Trade Organization Ministerial Conference (MC13), ICC sets out the private sector’s priorities and recommendations to make the multilateral trading system work better for people and the planet.
The International Chamber of Commerce (ICC) has joined a global coalition of industry associations in a united call to renew the pivotal digital safeguard.
ICC has proposed a framework that sets out a holistic vision for reform of the World Trade Organization (WTO) from the perspective of the global business community. Such a framework is necessary to ensure a comprehensive approach to reform across the three vital functions of the organisation.
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First published by ICC in 1936, Incoterms® rules are a set of eleven three-letter trade terms, reflecting business-to-business practice in contracts for the sale and purchase of goods.
