“…The World Bank (WB), the International Monetary Fund and the World Trade Organization (WTO) recently released a joint report (2017) warning against a turn of the global trade policy agenda. Indeed, in a context of erratic global trade developments, policy issues have returned to the spotlight, both in politics and academia (Feng et al 2017, Murina and Nicita 2017, Baccini et al 2018, Blanchard et al 2016, Conconi et al 2016, Haaland and Venables 2016, Baldwin 2011, Antras and Yeaple 2013, Vandenbussche and Zanardi 2010. Even as tariffs are at historically low levels, non-tariff measures (NTMs) play an important-and growing-role in global trade policy, exemplified by the burgeoning interest of international governmental and non-governmental bodies (i.a., Cadot and Malouche 2012, UN 2013, GTA 2018).…”