I think it would have to be a single multi-signatory convention. And part of that stipulates that you can only peer against networks in signatory nations.

The process of deciding that sort of law would be awful but if everybody focussed on serious and network focussed crime and not protecting Mickey Mouse et al, something good could come from it.

But you are probably right. The US —esp with current leadership— could very easily force protectionist terms on others. Nobody would want to be separated from the US. Switzerland would have no leverage. African countries would have no leverage. The EU and China might have a chance, but the latter especially stands to lose a lot more than it could gain. China still needs access to a global market.

It's definitely has potential to be deeply insidious. But with the value of the network, I'm just surprised people aren't suggesting more things like this.

To be clear, I'm not advocating this. I just see it as an inevitability.