To limit the negative externalities of unilateral policies on small, vulnerable economies (SVE), and in particular export taxes that may be difficult to ban in the short run, and to limit the use of such policies by large countries and generate income to help vulnerable importers to manage the price surge period, a system of “permits to tax' could be implemented. Free trade is necessary to achieve food security, but food security is also necessary to achieve support for free trade in the long run. Existing trade rules and disciplines offer little to ensure that trade remains conducive to food security under this new market environment, and they have to be adapted accordingly. Empirical analysis shows that different countries and regions suffered differently from the food price spike in 2007/08.