International Trade What Everyone Needs to Know®

International trade and trade policy have become increasingly important and complex in recent years. In this comprehensive introduction to the key aspects of international trade policy, noted authority Anne O. Krueger explains what has happened and why these issues are so difficult.

With evidence-based analysis and an even-handed approach, International Trade: What Everyone Needs to Know lays the foundation to understand what trade does and does not do. Focusing on the importance of trade in both goods and services, Krueger explores the effects of various trade policies step-by-step and demonstrates why economists generally support free trade. Krueger considers the historical experience, highlighting how technological changes and reduction of trade barriers helped transform the world economy. Tariffs, antidumping and countervailing duties, government procurement policies, preferential trading arrangements, trade with developing countries and emerging markets, and the World Trade Organization are examined. Krueger tackles the fundamental questions surrounding trade including: What are the benefits and costs? What are trade deficits and do they matter? Why do some people favor protectionism and barriers to trade? How does trade policy affect workers?

Written in question-and-answer format, this non-technical introduction to the policies of international trade provides an indispensable guide to one of the most crucial elements of the global economy.

Anne O. Krueger, a former World Bank chief economist and former first deputy managing director of the International Monetary Fund, is Caroline and Herald L. Ritch Professor Emeritus of Arts and Sciences in the Economics Department and Senior Fellow at the Center for International Development at Stanford University. She is also Senior Research Professor of International Economics at the School of Advanced International Studies, Johns Hopkins University.

Introduction

Part 1. The Groundwork

Chapter 1. Trade in World History
Chapter 2. What is Trade Policy About and Why?
Chapter 3. Facts about Trade

Part 2. Trade Policy Issues

Chapter 4. Why Do Economists Advocate Free Trade?
Chapter 5. Nontariff Barriers
Chapter 6. Do Trade Deficits Matter: What Should Be Done about Them?
Chapter 7. Does Trade Hurt American Jobs?
Chapter 8. Currency Manipulation

Part 3. What Trade Policy Does

Chapter 9. Case Studies of Protection: Steel, Aluminum, Autos, Textiles, and Apparel
Chapter 10. Agriculture: Should We Support and Protect Agriculture?
Chapter 11. The WTO
Chapter 12. Trade Remedy Protection Ads and CVDs
Chapter 13. Grey Areas: Defense, Standards, Procurement, Self-sufficiency, Transport (Jones Act)

Part 4. Trade Relations and Roles of Countries and Regions

Chapter 14. Preferential Trading Arrangements
Chapter 15. EU and Brexit
Chapter 16. What about NAFTA/MUSCA?
Chapter 17. What Happened to the TPP?
Chapter 19. What about Trade with China?
Chapter 20. Developing Countries and Emerging Markets

Part 5. Why We Need an International Order

Chapter 21. Helping those Adversely Affected by Trade and Other Events
Chapter 22. Political Economy of Trade Policy
Chapter 23. Conclusion: Why We Need an International Order