International trade has been hit hard by the outbreak of Covid-19: weak multilateral governance, renewed protectionist instincts, and a serious economic recession collectively produced an unprecedented drop in global trade flows throughout 2020. Moreover, the world trade system is facing daunting and long-lasting challenges, including climate change and the economy's digital transformation. However, there are some signs of hope: the new WTO Director General has the potential to build momentum for multilateral negotiations; global supply chains have proved to be resilient; and the G20 may offer meaningful responses to these issues through rigorous policy coordination. As such, is this the right moment to rekindle global trade? Are we facing the prime conditions to overcome regional fragmentation and to include developing countries within a fairer, rule-based trade system?