New “FIT-P” trade alliance forms to counter U.S. protectionism
A new coalition of World Trade Organization (WTO) members is set to launch in response to protectionist measures imposed by the Trump administration. Dubbed the Future of Investment and Trade Partnership (FIT-P), the group aims to defend free trade and rules-based commercial systems, according to an August 29 report by the Financial Times.
Spearheaded by Singapore, the United Arab Emirates, and New Zealand, the partnership is expected to include around ten countries among them Morocco and Rwanda, with Malaysia, Costa Rica, Panama, and Norway also named as potential members.
The FIT-P seeks to create a flexible coalition in support of multilateralism, countering Washington’s strategy of pursuing asymmetric bilateral agreements that allow the U.S. to unilaterally raise tariffs. This approach has increasingly undermined global consensus on open trade.
Key priorities for the new group include recognizing digital trade documents as equivalent to paper, adopting electronic signatures, and establishing clear rules for e-commerce.
These measures are seen as vital for improving the efficiency of international trade.
The official launch is scheduled for November via a virtual meeting, with an in-person gathering planned for July 2026.
The move reflects growing global pushback against U.S. trade policy. Prominent economists, including former IMF chief economist Olivier Blanchard, have endorsed such coalitions as necessary to rebalance global trade governance.
Simultaneously, the European Union has announced plans to strengthen ties with members of the CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership).
Together, these initiatives signal the emergence of a credible alternative to American protectionism and a renewed effort to sustain international trade cooperation.
Stan OKAFOR
