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International Trade: What Everyone Needs to Know®
International Trade: What Everyone Needs to Know®
  • A succinct and clear introduction to international trade policy
  • Balanced analysis of the benefits and costs of international trade for the United States and the world economy
  • Discusses how international trade policies affects workers, consumers, and the overall economy

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.



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

About the author: 

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.

"Summing up, policymakers around the world would do well to have a copy of Anne Krueger's book and read it: a suggestion that also invites translation to other languages. This contribution is also a natural candidate for inclusion in reading lists of courses focusing on topics such as economic journalism, international trade, globalisation, Trump's policies, applied economic analysis, and international institutions. Most significantly, 'concerned citizens' around the world now have the unique opportunity of learning international trade and the high costs of trade protection from Professor Anne Krueger, one of the sharpest economic minds of our times." -- Asian-Pacific Economic Literature

"In International Trade: What Everyone Needs to Know, Anne Krueger of Stanford University, a distinguished international economist, explodes the myths of Mr. Trump's approach. No, one cannot reduce a country's overall trade deficit by attacking bilateral deficits. No, foreign exporters did not bear the cost of the tariffs Mr. Trump imposed. No, the US will not make the Chinese do what it wants by inflicting punishment unilaterally. No, liberal trade is not a plot against America. And no, protectionism was never going to bring back the vanished industrial jobs of the past." -- Financial Times

"It is hard to think of any significant aspect of trade policy that is not brilliantly covered in this eminently readable book. Professor Krueger here distills a lifetime of research and real-world experience into a fascinating guidebook covering what every concerned citizen should know about trade history and policy." -- Arnold C. Harberger, Gustavus F. and Ann M. Swift Distinguished Service Professor Emeritus in Economics, University of Chicago

"International trade and trade policies affect all consumers, producers and workers and even the fate of nations. Anne Krueger has written that rare gem: a concise, readily accessible volume on a vital topic that needs to be read by newcomers to the field and those needing a refresher course alike." -- Michael J. Boskin, Professor of Economics and Hoover Institution Senior Fellow, Stanford University, and Former Chairman of the President's Council of Economic Advisers

Product details

ISBN : 9780190900458

Anne O. Krueger
288 Pages
140 x 210 mm
Pub date
Oct 2020
What Everyone Needs to Know
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International Trade: What Everyone Needs to Know®

International Trade: What Everyone Needs to Know®

International Trade: What Everyone Needs to Know®