The objective of this paper is to explore how new challenges are
affecting the Global Trading System and how it can evolve to face them.
They are: i) the deadlock to move multilateral negotiations at the WTO,
ii) the fragmentation of trade rules by the multiplication of preferential
agreements, iii) the arrival of a new model of global production and
trade leaded by global value chains, and iv) the imposition of new sets
of regulations by non-governmental organizations to reflect the concerns
of consumers in the North based on their precautionary attitude
about sustainability of products made in the World. The consequence
is that the lack of any multilateral order in this scenario is creating a
cacophony of rules and developing a new regulatory war of the Global
North against the Global South.