Within the framework of this research, the impact of new global challenges (COVID-19, China's sharp power and armed conflict in Ukraine) on globalisation and the structure of the world trading system was analysed. It was found that the political factor increasingly affects the trade policy of the Western world. One of the new trends in this context is "friendshoring". This concept involves maximising avoidance of unfriendly jurisdictions in their supply chains. At the same time, developed economies do not abandon their intentions to support developing countries through various political economic instruments (e.g. Generalised Scheme of Preferences).