The Political Economy of Trade Protection

This summary examines 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 clothing industries, the contributors trace the evolution of efforts to obtain protection, protectionist measures and their results. A chapter assessing the common themes that emerge from the studies concludes 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 should interest policymakers, business executives, and anyone interested in trade policy formulation and practice.