The article analyzes the challenges to the security and functionality of the international trade system, consisting of the trade flows between the states of the world, as well as a series of international regulatory institutions.Among the main challenges we mention military and trade conflicts, divergent growth trends in different regions, volatility of raw material prices, economic instability, governance issues within the World Trade Organization, the increase in the number and importance of regional trade agreements that gradually shift the focus of to the multilateral trade system to regional rules, the friendshoring trend. These factors increase the fragmentation of the single trade space, by eroding the basic principles of the international trade system, such as non-discrimination (the most favored nation clause, equal treatment for domestic and foreign products), progressive trade liberalization, predictability through consolidation and transparency, promoting fair competition, encouraging economic development and reforms. The outlook for the international trading system remains uncertain. At the same time, even if in the current conditions the countries aim, as a priority, to protect their national interests, we mention that from a strategic point of view, all WTO members will benefit from the development of multilateral cooperation. Thus, it is extremely important that the efforts of the world community support the multilateral systemic development of trade relations. When conducting the study, methods such as the systemic approach, analysis and synthesis, generalization, comparative analysis were used. International statistical data, WTO, UNCTAD publications, official documents of the European Union, international publications were used as informational support.