This report provides the most comprehensive account to date of the cross-border commercial fallout from government measures taken to tackle the COVID-19 pandemic. Information on 2,031 policy interventions taken during the first 10 months of 2020 was analysed in the preparation of this report. For sure, not every element of pandemic response had consequences for trading partners. Of those that did, three-quarters were harmful. Major findings are presented in the Executive Summary. Given the improved prospects for a revival in multilateral trade cooperation, we make three policy recommendations.