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.

IntroductionPart 1. The GroundworkChapter 1. Trade in World HistoryChapter 2. What is Trade Policy About and Why?Chapter 3. Facts about TradePart 2. Trade Policy IssuesChapter 4. Why Do Economists Advocate Free Trade?Chapter 5. Nontariff BarriersChapter 6. Do Trade Deficits Matter: What Should Be Done about Them?Chapter 7. Does Trade Hurt American Jobs?Chapter 8. Currency ManipulationPart 3. What Trade Policy DoesChapter 9. Case Studies of Protection: Steel, Aluminum, Autos, Textiles, and ApparelChapter 10. Agriculture: Should We Support and Protect Agriculture?Chapter 11. The WTOChapter 12. Trade Remedy Protection Ads and CVDsChapter 13. Grey Areas: Defense, Standards, Procurement, Self-sufficiency, Transport (Jones Act)Part 4. Trade Relations and Roles of Countries and RegionsChapter 14. Preferential Trading ArrangementsChapter 15. EU and BrexitChapter 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 MarketsPart 5. Why We Need an International OrderChapter 21. Helping those Adversely Affected by Trade and Other EventsChapter 22. Political Economy of Trade PolicyChapter 23. Conclusion: Why We Need an International Order