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Free trade is always under attack, more than ever in recent years. The imposition of numerous U.S. tariffs in 2018, and the retaliation those tariffs have drawn, has thrust trade issues to the top of the policy agenda. Critics contend that free trade brings economic pain, including plant closings and worker layoffs, and that trade agreements serve corporate interests, undercut domestic environmental regulations, and erode national sovereignty. Why are global trade and agreements such as the Trans-Pacific Partnership so controversial? Does free trade deserve its bad reputation? This book aside the misconceptions that run rampant in the debate over trade and gives readers a clear understanding of the issues involved. In its fifth edition, the book has been updated to address the sweeping new policy developments under the Trump administration and the latest research on the impact of trade.

Free trade. --- Globalization. --- Protectionism. --- United States --- United States. --- Commercial policy. --- Adobe. --- Algorithmic trading. --- Anti-globalization movement. --- Balance of trade. --- Brookings Institution. --- Bureaucrat. --- Calculation. --- Comparative advantage. --- Competition. --- Competitiveness. --- Consumer. --- Consumption (economics). --- Currency. --- Developed country. --- Donald Trump. --- Dumping (pricing policy). --- Economic development. --- Economic growth. --- Economic integration. --- Economic interventionism. --- Economic policy. --- Economics. --- Economist. --- Economy of the United States. --- Economy. --- Employment. --- Exchange rate. --- Expense. --- Export subsidy. --- Export. --- Financial crisis of 2007–08. --- Financial crisis. --- Foreign direct investment. --- Foreign trade of the United States. --- General Agreement on Tariffs and Trade. --- Great Recession. --- Gross domestic product. --- Import "a. --- Import Duty. --- Import. --- Income. --- Industrial policy. --- Industry. --- Inflation. --- International Monetary Fund. --- International trade. --- Investment. --- Journal of International Economics. --- Legislation. --- Liberalization. --- Lobbying. --- Macroeconomics. --- Manufacturing. --- Market economy. --- Market price. --- National security. --- Net Exporter. --- Net Importer. --- North American Free Trade Agreement. --- Oxford University Press. --- Paul Krugman. --- Payment. --- Percentage point. --- Peterson Institute for International Economics. --- Policy. --- Politician. --- Price support. --- Princeton University Press. --- Product (business). --- Productivity. --- Ralph Nader. --- Real income. --- Recession. --- Regulation. --- Smoot–Hawley Tariff Act. --- Subsidy. --- Supply (economics). --- Tariff. --- Tax. --- Technology. --- The Wealth of Nations. --- Trade agreement. --- Trade barrier. --- Trade diversion. --- Trade restriction. --- Trade union. --- Trade war. --- Trans-Pacific Partnership. --- Unemployment. --- United States Department of Commerce. --- Wage. --- Welfare. --- World Bank. --- World Trade Organization. --- World War II. --- World economy. --- Free trade