To assess the impact of the recent protectionist measures enacted during the Trump administration—most notably the imposition of high tariffs—on the welfare of American consumers, it is instructive to first revisit the sources of welfare gains from trade as identified in modern trade theory.
When Trump Tariffs Backfire: Three Sources of…
To assess the impact of the recent protectionist measures enacted during the Trump administration—most notably the imposition of high tariffs—on the welfare of American consumers, it is instructive to first revisit the sources of welfare gains from trade as identified in modern trade theory.