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The rise of offshoring of intermediate inputs raises important questionsfor commercial policy. Do the distinguishing features of offshoringintroduce novel reasons for trade policy intervention? Doesoffshoring create new problems of global policy cooperation whosesolutions require international agreements with novel features? Inthis paper we provide answers to these questions, and thereby initiatethe study of trade agreements in the presence of offshoring. Weargue that the rise of offshoring will make it increasingly difficult forgovernments to rely on traditional GATT/WTO concepts and rules – such as market access, reciprocity and non-discrimination – to solvetheir trade-related problems. (JEL F12, F13, L24)