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.
Industry Reviews
"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
