The possibility of a grand bargain that would produce major trade liberalization in manufacturing, services and agriculture has steadily diminished and has now disappeared.

AEI will host a panel of trade experts on both sides of the argument to debate the endgame for the Doha Round and the future of the WTO and its operations.

The Doha talks cannot conclude without attention from the highest level of political leadership. Should this not be forthcoming, we may be in for an extended period of institutional decay.

For domestic political reasons unrelated to trade, the US will be in no position to lead on international trade issues for some years. As the US is still the "indispensable nation" for WTO talks, this means 2011 is the last good opportunity for many years.

If the WTO collapses as a negotiating forum, nations may move towards a crass calculus that assesses verdicts only on the basis of the threats that back them. This would be a deeply regrettable move away from a rules-based global trading regime.

The recent failure of trade ministers to achieve a breakthrough on the difficult issues at the center of the World Trade Organization’s (WTO) Doha round is a major setback to the WTO and to the multilateral trading system. Several trade experts will convene at AEI to analyze the implications of...