Trade policy issues are no longer solely the concern of a few government specialists and academics. Manufacturers, businesspeople, educators, and government officials must keep abreast of laws and regulations relating to trade, the economic consequences of various trade measures, and current trends in policy, but there have been few coherent sources for such information. Trade Policy in a Changing World Economy provides a clear introduction to complex trade issues, covering theoretical issues of trade policy, the changing nature of American trade policy, the changing nature of American trade policy since World War II, multilateral trade negotiations, and trade strategies. The volume is particularly timely as the world's nations enter a new round of GATT negotiations for the reduction of trade barriers.

A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs

*Updated edition with a new foreword on the Trump administration's trade policy* The vast benefits promised by the supporters of globalization, and by their own government, have never materialized for many Americans. In Failure to Adjust Edward Alden provides a compelling history of the last four decades of US economic and trade policies that have left too many Americans unable to adapt to or compete in the current global marketplace. He tells the story of what went wrong and how to correct the course. Originally published on the eve of the 2016 presidential election, Alden’s book captured the zeitgeist that would propel Donald J. Trump to the presidency. In a new introduction to the paperback edition, Alden addresses the economic challenges now facing the Trump administration, and warns that economic disruption will continue to be among the most pressing issues facing the United States. If the failure to adjust continues, Alden predicts, the political disruptions of the future will be larger still.

A critical review of recent U.S. trade policies that have failed to enforce sufficient reciprocity and overall trade balance, with suggestions for policies that foster a more balanced and realistic pattern of world trade growth.

Trade policy issues are no longer solely the concern of a few government specialists and academics. Manufacturers, businesspeople, educators, and government officials must keep abreast of laws and regulations relating to trade, the economic consequences of various trade measures, and current trends in policy, but there have been few coherent sources for such information. Trade Policy in a Changing World Economy provides a clear introduction to complex trade issues, covering theoretical issues of trade policy, the changing nature of American trade policy, the changing nature of American trade policy since World War II, multilateral trade negotiations, and trade strategies. The volume is particularly timely as the world's nations enter a new round of GATT negotiations for the reduction of trade barriers.

Deftly navigating the tensions among globalization, national sovereignty, and democracy, Straight Talk on Trade presents an indispensable commentary on today's world economy and its dilemmas, and offers a visionary framework at a critical time when it is most needed.