I look forward to seeing Amb. Tai's and USTR's analysis of this issue, and resolving her differences with Treasury Sec Yellen. If cutting import tariffs doesn't reduce the domestic price of foreign goods, then I guess domestic producers have nothing to fear from their reduction.

https://twitter.com/GavinBade/status/1521224219492851720

And there is @NYFedResearch study on tariffs and the price level . . .
libertystreeteconomics.newyorkfed.org/2019/01/the-im…

Why was there was so much trade liberalization in pivotal decade of 1985-95 - creating globalized world of today? Thread on new paper 1/7 As @AdamPosen points out, the open trading system is eroding today . . . but how did we get that unique historical period from 1990-c.2010 when globalization was at its apogee? 2/7
foreignaffairs.com/articles/world…

How the heck did this happen?! A thread on my new paper on South Korea

https://twitter.com/PIIE/status/1436139362304016385

Basic problem: Korea's currency was deliberately overvalued - bigly - in the 1950s and this completely stifled Korea's exports (<1% GDP in 1959!!!)

THREAD: Tomorrow (July 26) is the 85th birthday of Jagdish Bhagwati, one of the great trade economists of all time (1/n) In his classic 1963 JPE article with Ramaswami, he showed how the case for free trade was not dependent on perfect markets, breaking the old link between free trade & laissez faire; hard to overstate the importance of this work (2/n) jstor.org/stable/1828374