We estimate the macroeconomic effects of import tariffs and trade policy uncertainty in the United States, combining … depress trade, investment, and output persistently. The general equilibrium import elasticity is -0.8. Historically, NAFTA …

to the elimination of tariffs and cuts in non-tariff measures by 25%, is in the range of 1% to 4% of initial consumption …

to the elimination of tariffs and cuts in non-tariff measures by 25%, is in the range of 1% to 4% of initial consumption …

WTO negotiations deal predominantly with bound - besides applied - tariff rates. But, how can reductions in tariffs … from the real options literature; doing so we highlight the important role of bound tariffs at the extensive margin of … trade. We find that bound tariffs are more effective with higher risk destination markets, that a large binding overhang may …