or stifle innovation. Using three distinct sources of variation to identify rising trade exposure, we provide a causal …, profitability, and R&D expenditure all decline within trade-exposed firms. The trade-induced contraction along all margins of …

is centered in trade-exposed local labor markets and that commences prior to the divisive 2016 U.S. presidential election …. Exploiting the exogenous component of rising trade with China and classifying legislator ideologies by congressional voting … disproportionately removed moderate representatives from office in the 2000s. Trade-exposed districts with an initial majority white …