International migration is a relative newcomer on the “trade and” agenda and has hitherto received relatively little attention in trade and migration studies alike. The inclusion of labour migration as one essential mode of cross-border trade in services, so-called Mode 4 in the GATS, opened the agenda for more far-reaching developments at the level of regional and bilateral free-trade agreements . This chapter shows that this deepening of the trade-migration nexus is intricately linked to power shifts in the global economy and the rise of regionalism. For the international trade regime in 2025, this means that, in combination with the ongoing power transitions, the trade-related mobility agenda is likely to expand beyond what the former sponsors of the GATS agreement, the European Union (EU) and the United States, originally intended.