This chapter describes the basic structure of international trade agreements as they exist in practice, explores theoretically the normative consequences of actual and alternative trade agreements, and offers some theoretically-based explanation for the structure of trade agreements....

We formalize the GATT/WTO principle of reciprocity in workhorse quantitative trade models, characterizing reciprocal tariff cuts that hold terms of trade fixed and investigating their labor-market impacts. We provide closed-form expressions mapping reciprocal tariff cuts to labor market...