The Political Economy of Trade Protection (Hardcover, New)

Although it advocates free trade, the U.S. government often provides trade protection for American industries. This volume is a clear and concise examination of the level, form, and evolution of American trade protection. In case studies of trade barriers imposed during the 1980s to help the steel, semiconductor, automobile, lumber, wheat, and textile and apparel industries, the contributors trace the evolution of efforts to obtain protection, protectionist measures, and their results. Also included is a cross-section study of the determinants of administered protection that sheds light on the overall political economy of protection. In a chapter assessing the common themes that emerge from the studies, a number of conclusions are drawn. Among these are that the focus of current trade law is exclusively on the individual protection-seeking industries, with little regard for indirect effects on using industries or for consumers. Reform could usefully take these effects into account. This volume will be of interest to policymakers, business executives, and anyone interested in current trade policy formulation and practice.