country's relative size or relative average productivity. Furthermore, in the two-country Nash equilibrium, tariffs turn out … to be strategic substitutes. Small or poor economies set lower Nash tariffs than large or rich ones. Lower transportation … costs or smaller fixed market entry costs induce higher equilibrium tariffs and larger welfare losses relative to the case …

in global economic cooperation could impact Europe up to four times more than direct U.S. tariffs alone. Potential U … would likely adopt a more multilateral stance, while Trump could intensify tariffs and weaken the WTO's role. If the U ….S. imposes broad tariffs-such as a 10% surcharge on imports and a 60% tariff on Chinese goods-global trade could shrink by 2 …

Recent quantitative trade models treat import tariffs as pure cost shifters so that their effects are similar to … iceberg trade costs. We introduce revenue-generating import tariffs, which act as demand shifters, into the framework of … quantification based on countries' observed degrees of openness, tariff revenues, and on the gravity elasticities of tariffs and …

Recent quantitative trade models treat import tariffs as pure cost shifters so that their effects are similar to … iceberg trade costs. We introduce revenue-generating import tariffs, which act as demand shifters, into the framework of … quantification based on countries observed degrees of openness, tariff revenues, and on the gravity elasticities of tariffs and …

Recent quantitative trade models treat import tariffs as pure cost shifters so that their effects are similar to … iceberg trade costs. We introduce revenue-generating import tariffs, which act as demand shifters, into the framework of … quantification based on countries' observed degrees of openness, tariff revenues, and on the gravity elasticities of tariffs and …

We derive a simple equation for the welfare gains from trade when tariffs are liberalized or iceberg trade costs fall … the analysis of Arkolakis, Costinot and Rodriguez-Clare (2012) to encompass revenue-generating import tariffs. Our formula … countries with relatively high status quo tariffs, our formula predicts 30-60\% larger gains from trade than the icebergs only …

generating import tariffs. This gives rise to a new type of welfare isomorphisms across models and liberalization scenarios and …

-level comparisons, trade deflection is not profitable because external tariffs are rather similar and transportation costs are non … adjustment of external tariffs and ex ante selection effects. The pervasive and unconditional use of RoOs is, therefore, hard to …