I derive a novel solution for the general equilibrium effects of tariffs that is robust to heterogeneity across industries and countries, and is a function of only aggregate trade data and country-by-industry Pareto shape parameters. Using the model to evaluate tariff shocks, I show that while most countries lose by removing observed tariffs unilaterally, India, Japan, Korea, and the United States gain by doing so, which suggests inefficient tariff discrimination. In evaluating multilateral shocks, observed tariff cuts over 1994–2000 benefit 69 percent of countries, with these benefits skewed toward developing nations. In contrast, removing all post-2000 tariffs benefit the developed. (JEL F12, F13, F14)

Japan introduces a new proposal for U.S. auto tariff reduction, emphasizing domestic production and export contributions to strengthen trade ties.

During a February online survey among buy-side advertising decision-makers handling annual ad budgets of at least 250 thousand U.S. dollars in the United States, approximately 40 percent of the participants said they expected the retail and e-commerce industry to cut its ad spending that year due to tariffs. The consumer electronics segment and the media and entertainment sector followed, mentioned by 33 and 28 percent of the respondents, respectively.

During a February online survey among buy-side advertising decision-makers handling annual ad budgets of at least 250 thousand U.S. dollars in the United States, 41 percent of participants anticipated cuts in social media ad spending that year due to tariffs. Gaming and linear TV followed, each mentioned by 24 percent. Approximately 43 percent of respondents cited other traditional media.

For the "tariff reduction product list" of regional trade agreements signed with our country, the products with abnormally increased import volumes monitored monthly. By 2016, the countries that had signed regional trade agreements with our country were mainland China, New Zealand, and Singapore.

India's reduction of tariffs on bourbon whisky imports from 150% to 100% is anticipated to boost U.S. brands like Jim Beam and enhance trade relations.

This study extends the analysis of Kovak and Morrow (2022), who study the labor market effects of the FTA by comparing career trajectories for otherwise similar workers whose initial industries subsequently faced different tariff cuts under the FTA. Here, we focus on distributional impacts by examining how the effects of tariff cuts on employment and earnings differed for workers with different initial income levels. Our findings suggest that the effects of the FTA on earnings inequality were small, and the point estimates imply a slight reduction in earnings inequality among workers employed in manufacturing prior to the FTA’s enactment.

The present study develops an equilibrium displacement model (EDM) to evaluate the impacts of a free trade agreement (FTA) on the profits of individual farmers. The parameters representing the share of profit within revenue and the elasticity of cost with respect to quantity in the cost function play key roles in assessing the change in individual farmers’ profit. The application of the developed EDM to assess the impacts of the Korea–Chile FTA indicates that this FTA has little impact on the Korean grape market and grape producers in Korea.

The zip file includes the files to replicate the estimation results in “What Goes Around Comes Around: Export-Enhancing Effects of Import-Tariff Reductions.”

Tariff reduction and export growth of textiles exported by China to Japan.

Why are some autocracies more open to trade than others? And why are autocratic trade policies so volatile? Despite wide variation in how autocracies approach international trade, existing research offers few answers to these questions. We argue that the trade policies of autocratic regimes depend in part on the mode of entry of their leaders. Autocrats can enter power either legally—according to established rules of succession—or extralegally, through a palace revolt or coup. These different modes of entry lead to different posttransition politics and trade policies. Because new extralegal leaders are outsiders with limited resources, they are vulnerable to coups by other ruling elites. They reduce this vulnerability by building public support via lower tariffs. However, as they consolidate their rule, they reverse these initial tariff cuts. Extralegal entries thus lead to foreign economic policies that are more “cooperative” in the short run but more volatile in the long run.

Nike's stock surged over 7% after U.S.-China announced tariff reductions. Key technical levels suggest bullish momentum, with potential resistance at $63 and support at $59.

This research examines the impact of the Regional Comprehensive Economic Partnership (RCEP) on the textile and apparel industry within its member nations. The study seeks to understand the implications of RCEP on trade dynamics, innovation chains, and industrial integration in the textile sector. The study uses both quantitative analysis of trade data and qualitative assessment of policy frameworks to analyze changes in textile trade and patterns among RCEP members through UN Comtrade data. Qualitative analysis is conducted to examine RCEP policies related to intellectual property protection, investment regulations, and innovation cooperation. The findings reveal a significant increase in textile trade volume among RCEP member countries following the agreement’s implementation. China emerges as a key player, experiencing substantial growth in textile exports to RCEP nations, particularly driven by tariff reduction initiatives. RCEP provisions stimulate demand for innovation within the textile industry, fostering collaborative efforts in scientific research and development.

Real-time tracking of human and economic costs from Trump administration policy changes including tariffs, healthcare cuts, and Project 2025 implementation.

WITS is a trade software tool giving access to bilateral trade between countries based on various product classifications, product details, years, and trade flows. It also contains tariff and non-tariff measures data, as well as analysis tool to calculate effects of tariff reductions. In addition, users have access to many visualization tools. - Periodicity: Quarter - Number of Economies: 219 - Trade imports, exports, re-imports, re-exports, gross exports, gross imports, MFN tariff rates, bound tariff raters, preferential tariffs. Non-Tariff Measure data with new UNCTAD classification now available. - Update Frequency: Quarterly - Access Option: API, Bulk download, Query tool

This is the address to the Board of Governors, delivered by Mr. James D. Wolfensohn, President of the World Bank. It was indicated that the development community has confirmed the Millennium Development Goals as our framework for action. Our thinking and action must be local, regional, and global, and we must work and act together. First and foremost, developing country leaders have asserted that the responsibility for the future of their countries is in their hands. They know that they must drive their development and create a constructive environment to encourage growth that is equitable and just for poor people, indeed for all people. This growth must be based on sound social and economic policies. To create the conditions for entrepreneurship, productivity, and jobs, the developing countries must invest in health and education, including early childhood education. These countries must also invest in effective legal and judicial systems; clear tax and regulatory frameworks implemented in approaches that fight corruption at all levels; and strong and well-regulated financial systems. It was also indicated that the Bank must focus on implementation of our promises to work toward the Millennium Development Goals. Our operations must become more transparent. We must support developing countries to better build their capacity. We must act now on our promises. We must deliver on them with a sense of urgency. This is our responsibility and our destiny.

ABSTRACT The objective of this article is to simulate reductions of tariff and non-tariff barriers, in the multilateral scope of the Doha Round, and to verify the benefits for Brazil. Therefore, a computable general equilibrium model was estimated using the GTAP software, and four scenarios were simulated. The results show that, for Brazil, in the scenarios in which only tariff reductions are incorporated, the primary and agroindustry sectors would be the most benefited. The multilateral reduction of non-tariff barriers to trade (NTB) would favor, especially, the industrial sectors, of greater technological content. Concerning well-being, scenarios incorporating reductions in NTB or combined reductions in NTB and tariffs are the most beneficial for all regions included in the study, with worldwide gains that can reach over $ 1 trillion.

Thailand is set to lower tariffs on U.S. corn imports, aiming to benefit local agriculture amid trade tensions.

Codes and data to replicate tables and figures in the paper.

Reckitt Benckiser is investing $200 million to boost US manufacturing, creating 300 jobs and reducing import dependency amid potential Trump administration tariffs.