7. The Group of Seven and Group of Twenty

Multilateral agreements do not meet the needs of all nations with different stages of development and resources, culminating in colliding interests. The multilateral trade agreement framework came under attack with Donald Trump elected as president of the United States, Brexit, and rising protectionism and populism in the West. Trump took the United States out of the Trans Pacific Partnership and gave notice to Canada and Mexico that he would renegotiate the North American Free Trade Agreement. However, China is promoting multilateral trade relationships in reviving negotiations on the Regional Comprehensive Economic Partnership (RCEP), creating the Free Trade Area of the Asia Pacific (FTAAP) which covers all 21 Asia Pacific Economic Cooperation (APEC) members.