Antimicrobial resistance (AMR) is one of the greatest public health emergencies of our time. Many governments are becoming increasingly concerned about AMR and are aware that urgent measures are needed. In the UK, in particular, the 2016 O’Neill AMR Review, government expert reports like the 2018 Parliamentary Office of Science and Technology on AMR and Immunisation, and efforts of the UK’s Chief Medical Officer indicate the high level of current political concern about antibiotic stewardship. But AMR is not a problem that can be fully mitigated at the national level: tackling AMR requires global and multi-sectoral action. Recent UK leadership on AMR is an important step in the right direction but will not be enough. For international stewardship efforts to be truly effective, what is needed is a lasting international agreement – a grand bargain – on how we collectively manage the antimicrobial commons in order to ensure sustainable access to these life-saving medicines over the long-term for everyone’s benefit. We propose to support dialogue on the necessary components of such a grand bargain by organising two meetings of experts and policy makers to discuss, design, and promote a possible grand bargain on AMR.