The worldwide spread of COVID-19 has had a major impact on supply chains. It is reasonable to assume that the impact on trade flows could be even greater than that of the GFC in 2009, when world trade plummeted by over 20%. Most of these consequences are the natural result of the closure of many production facilities around the world. However, some trade impacts are the direct result of government interventions in trade policy, pointing to a greater and longer-term impact of the current crisis.