Hufbauer, Gary Clyde; Schott, Jeffrey J.; Cimino, Cathleen - Peter G. Peterson Institute for International Economics …
In the wake of the Great Recession of 2008–09, economists feared that protectionist policies might sweep the world economy, echoing the wave of tariff escalations during the Great Depression of the 1930s. To some surprise, officials were more restrained and largely avoided traditional forms of...