Subsidies often exist because of ambitions related to trade and investment. Trade is also a place where negative effects of subsidies are often felt the hardest - by non-subsidizing countries. At the same time, the world trade regime is the only place where binding international regulation on subsidies has been established: the World Trade Organization's (WTO) Agreement on Subsidies and Countervailing Measures (ASCM). The GSI's work on trade and investment explores all these linkages and investigates how the trade regime could address subsidies more effectively.