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Should the China-U.S. trade agreement prompt relief because it averts a damaging trade war or concern because selective preferential access for the United States to China's markets breaks multilateral rules against discrimination? The answer depends on how China implements the agreement. Simulations from a computable general equilibrium model suggest that the United States and China would be better off under this "managed trade" agreement than if the trade war had escalated. However, compared with the policy status quo, the deal will make everyone worse off except the United States and its input-supplying neighbor, Mexico. Real incomes in the rest of world would decline by 0.16 percent and in China by 0.38 percent because of trade diversion. China can reverse those losses if, instead of granting the United States privileged entry, it opens its market for all trading partners. Global income would be 0.6 percent higher than under the managed trade scenario, and China's income would be nearly 0.5 percent higher. By creating a stronger incentive for China to open its markets to all, an exercise in bilateral mercantilism has the potential to become an instrument for multilateral liberalization.

Access to Markets --- Bilateral Mercantilism --- Computable General Equilibrium Model --- International Economics and Trade --- International Trade and Trade Rules --- Managed Trade --- Preferential Access --- Preferential Trade Agreement --- Trade Diversion --- Trade Liberalization --- Trade Policy --- Trade War

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An essential guide to the intractable public debates about the virtues and vices of economic globalization, cutting through the complexity to reveal the fault lines that divide us and the points of agreement that might bring us together. Globalization has lifted millions out of poverty. Globalization is a weapon the rich use to exploit the poor. Globalization builds bridges across national boundaries. Globalization fuels the populism and great-power competition that is tearing the world apart. When it comes to the politics of free trade and open borders, the camps are dug in, producing a kaleidoscope of claims and counterclaims, unlikely alliances, and unexpected foes. But what exactly are we fighting about? And how might we approach these issues more productively? Anthea Roberts and Nicolas Lamp cut through the confusion with an indispensable survey of the interests, logics, and ideologies driving these intractable debates, which lie at the heart of so much political dispute and decision making. The authors expertly guide us through six competing narratives about the virtues and vices of globalization: the old establishment view that globalization benefits everyone (win-win), the pessimistic belief that it threatens us all with pandemics and climate change (lose-lose), along with various rival accounts that focus on specific winners and losers, from China to America’s rust belt. Instead of picking sides, Six Faces of Globalization gives all these positions their due, showing how each deploys sophisticated arguments and compelling evidence. Both globalization’s boosters and detractors will come away with their eyes opened. By isolating the fundamental value conflicts—growth versus sustainability, efficiency versus social stability—driving disagreement and show where rival narratives converge, Roberts and Lamp provide a holistic framework for understanding current debates. In doing so, they showcase a more integrative way of thinking about complex problems.

Globalization. --- Anti-globalization movement. --- Anti-Globalization. --- China-United States. --- Coronavirus. --- Geoeconomics. --- Geopolitics. --- Immigration. --- Inequality. --- International Trade. --- Left-Wing Populism. --- Poverty. --- Protectionism. --- Right-Wing Populism. --- Top 1%. --- Trade Security. --- Trade War. --- Weaponized Interdependence.

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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

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The Smoot-Hawley tariff of 1930, which raised U.S. duties on hundreds of imported goods to record levels, is America's most infamous trade law. It is often associated with--and sometimes blamed for--the onset of the Great Depression, the collapse of world trade, and the global spread of protectionism in the 1930s. Even today, the ghosts of congressmen Reed Smoot and Willis Hawley haunt anyone arguing for higher trade barriers; almost single-handedly, they made protectionism an insult rather than a compliment. In Peddling Protectionism, Douglas Irwin provides the first comprehensive history of the causes and effects of this notorious measure, explaining why it largely deserves its reputation for combining bad politics and bad economics and harming the U.S. and world economies during the Depression. In four brief, clear chapters, Irwin presents an authoritative account of the politics behind Smoot-Hawley, its economic consequences, the foreign reaction it provoked, and its aftermath and legacy. Starting as a Republican ploy to win the farm vote in the 1928 election by increasing duties on agricultural imports, the tariff quickly grew into a logrolling, pork barrel free-for-all in which duties were increased all around, regardless of the interests of consumers and exporters. After Herbert Hoover signed the bill, U.S. imports fell sharply and other countries retaliated by increasing tariffs on American goods, leading U.S. exports to shrivel as well. While Smoot-Hawley was hardly responsible for the Great Depression, Irwin argues, it contributed to a decline in world trade and provoked discrimination against U.S. exports that lasted decades. Featuring a new preface by the author, Peddling Protectionism tells a fascinating story filled with valuable lessons for trade policy today.

Tariff --- Depressions --- History --- United States. --- United States --- Commercial policy --- A Monetary History of the United States. --- Ad valorem tax. --- Aggregate demand. --- Amendment. --- Balance of trade. --- Bank failure. --- Business cycle. --- Calculation. --- Central bank. --- Commodity. --- Competition. --- Congressional Record. --- Consumer Goods. --- Consumer. --- Consumption (economics). --- Currency. --- Daniel Patrick Moynihan. --- Debenture. --- Deflation. --- Depreciation. --- Disaster. --- Donald Trump. --- Duty-free shop. --- Economic growth. --- Economic indicator. --- Economic nationalism. --- Economic problem. --- Economic recovery. --- Economics. --- Economist. --- Economy of the United States. --- Economy. --- Editorial cartoon. --- Employment. --- Exchange rate. --- Expense. --- Export subsidy. --- Export. --- Federal Farm Board. --- Financial crisis of 2007–08. --- Financial crisis. --- Financial distress. --- Foreclosure. --- Foreign trade of the United States. --- Free trade. --- General Agreement on Tariffs and Trade. --- Herbert Hoover. --- Import Duty. --- Import. --- Income. --- Inflation. --- International trade. --- Investment. --- Investor. --- Keynesian economics. --- Legislation. --- Lobbying. --- Logrolling. --- Manufacturing. --- Member of Congress. --- Monetary policy. --- National interest. --- Net Exporter. --- Newspaper. --- North American Free Trade Agreement. --- Paul Krugman. --- Policy. --- Politician. --- Politics. --- Price–specie flow mechanism. --- Princeton University Press. --- Protectionism. --- Protective tariff. --- Provision (accounting). --- Provision (contracting). --- Real estate appraisal. --- Real versus nominal value (economics). --- Recession. --- Reed Smoot. --- Smoot–Hawley Tariff Act. --- Statistical Abstract of the United States. --- Statistics Canada. --- Stock market crash. --- Subsidy. --- Surplus product. --- Tariff. --- Tax rate. --- Tax. --- The New York Times. --- Tight Monetary Policy. --- Trade agreement. --- Trade barrier. --- Trade restriction. --- Trade war. --- Unemployment. --- Vote trading. --- Ways and means committee. --- Welfare. --- World Trade Organization. --- World economy.

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Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in The Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin's Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation-first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. As the Trump administration considers making major changes to US trade policy, Irwin's sweeping historical perspective helps illuminate the current debate. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. --

Foreign trade. International trade --- United States --- E-books --- 331.13 --- 382.30 --- Geschiedenis van de handel --- Handels- en wisselpolitiek in hun verband met de buitenlandse handel: algemeenheden --- Tariff --- Foreign trade regulation --- History --- Commercial policy --- History. --- U.S.A. --- Jungtinės Amerikos valstybės --- Soedinennye Shtaty Si︠e︡vernoĭ Ameriki --- Soedinennye Shtaty Severnoĭ Ameriki --- Si︠e︡vero-Amerikanskīe Soedinennye Shtaty --- Severo-Amerikanskie Soedinennye Shtaty --- Zlucheni Derz︠h︡avy --- USA --- US --- Arhab --- Ar. ha-B. --- Artsot ha-Berit --- ولايات المتحدة الامريكية --- Wilāyāt al-Muttaḥidah al-Amirīkīyah --- ABSh --- Amerika Birlăshmish Shtatlary --- ABŞ --- Amerika Birlăşmi Ştatları --- Forente stater --- Spojené staty americké --- Severo-Amerikanskie Shtaty --- Sjedinjene Američke Države --- Zʹi︠e︡dnani Derz︠h︡avy Ameryky --- Amerikai Egyesült Államok --- Yhdysvallat --- Verenigde Staten --- Egyesült Államok --- Hiwsisayin Amerikayi Miatsʻeal Tērutʻiwnkʻ --- Estados Unidos de América --- United States of America --- Fareyniḳṭe Shṭaṭn --- Artzois Ha'bris --- Estados Unidos da América do Norte --- SShA --- Soedinennye Shtaty Ameriki --- VSA --- États-Unis d'Amérique --- Vereinigte Staaten von Amerika --- Stati Uniti d'America --- Estados Unidos --- EE.UU. --- Stany Zjednoczone --- ĒPA --- Amerika Qūrama Shtattary --- Amerika Qŭshma Shtatlari --- SAD --- Saharat ʻAmērikā --- Hēnomenai Politeiai Amerikēs --- ZSA --- Mei-kuo --- Meiguo --- Mei guo --- ZDA --- Združene države Amerike --- U.S. --- America (Republic) --- Amirika Carékat --- Verenigde State van Amerika --- VS --- ولايات المتحدة --- Wilāyāt al-Muttaḥidah --- ولايات المتّحدة الأمريكيّة --- Wilāyāt al-Muttaḥidah al-Amrīkīyah --- Estatos Unitos --- Estatos Unitos d'America --- Ètats-Unis d'Amèrica --- Estaos Xuníos d'América --- Estaos Xuníos --- Tetã peteĩ reko Amérikagua --- Istadus Unidus --- Amerika Birlăşmiş Ştatları --- Amerika ka Kelenyalen Jamanaw --- Bí-kok --- Amerika Qushma Shtattary --- AQSh --- Злучаныя Штаты Амерыкі --- Zluchanyi︠a︡ Shtaty Ameryki --- Yunaeted Stet blong Amerika --- Yunaeted Stet --- Vaeinigte Staatn --- Vaeinigte Staatn vo Amerika --- Stadoù-Unanet Amerika --- Sŭedineni amerikanski shtati --- САЩ --- SASht --- Съединените щати --- Sŭedinenite shtati --- Америка (Republic) --- Amerika (Republic) --- Estats Units d'Amèrica --- Америкӑри Пӗрлешӳллӗ Штатсем --- Amerikări Pĕrleshu̇llĕ Shtatsem --- Stati Uniti --- SUA (Stati Uniti d'America) --- Unol Daleithiau America --- Unol Daleithiau --- Amerikas Forenede Stater --- Vereinigte Staaten --- Wááshindoon Bikéyah Ałhidadiidzooígíí --- Zjadnośone staty Ameriki --- Ameerika Ühendriigid --- Ηνωμένες Πολιτείες της Αμερικής --- Hēnōmenes Politeies tēs Amerikēs --- Η.Π.Α. --- Ē.P.A. --- Usono --- Unuiĝintaj Ŝtatoj de Ameriko --- Американь Вейтьсэндявкс Штаттнэ --- Amerikanʹ Veĭtʹsėndi︠a︡vks Shtattnė --- Ameriketako Estatu Batuak --- Feriene Steaten --- Feriene Steaten fan Amearika --- FS --- Stâts Unîts di Americhe --- Stâts Unîts --- Stáit Aontaithe Mheiriceá --- Steatyn Unnaneysit America --- Steatyn Unnaneysit --- S.U.A. --- Na Stàitean Aonaichte --- NSA --- Mî-koet --- 미국 --- Miguk --- Amerikayi Miatsʻyal Nahangner --- Miatsʻyal Nahangner --- Американь Вейтьсэндявкс Штаттнэ --- Spojené obce severoamerické --- États-Unis --- É.-U. --- ÉU --- Tariff - United States - History --- Foreign trade regulation - United States - History --- United States - Commercial policy - History --- trade, commerce, policy, cross-border, international, global, history, foreign, markets, trade war, tariff, economic.