Bowen, T. Renee; Broz, J. Lawrence; Rosendorff, B. Peter - National Bureau of Economic Research - 2023
Trade policy is set by domestic political bargaining between globalists and protectionists, representing owners of …, protectionists implement high tariffs when status quo tariffs are low. When status quo tariffs are high, reciprocal free trade …- distribution. Consensus emerges for Retreat from free trade when imports are high and domestic transfers are low, suggesting that …