We derive a simple equation for the welfare gains from trade when tariffs are liberalized or iceberg trade costs fall. Covering various one-sector trade models that may or may not feature extensive margins and imperfect competition, we generalize the analysis of Arkolakis, Costinot and...

Understanding the Recent Sino-U.S. Trade Conflict -- The Status of China’s Market Economy and Structural Reforms: The Issues behind the U.S.-China Trade War -- The Day After Tomorrow: Evaluating the Burden of Trump’s Trade War -- The Potential Impact of China–US BIT on China’s...