The dominant narrative today is that the era of free trade is dead. If slowing growth in trade since the Global Financial Crisis represented the beginning of the end, the protectionist policies of US President Donald Trump must surely be the nail in the coffin. And now, Covid-19 has triggered the steepest drop in global trade since 2000, with trade falling 12.5% in 2Q2020 according to the CPB Netherlands Bureau for Economic Policy Analysis. 

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