Market access negotiations in merchandise trade at the multilateral level cover tariffs and non-tariff measures (NTMs …). While tariffs have been substantially reduced in earlier rounds, they remain high in certain areas and further reductions …

Historically, tariffs have been an attractive policy tool to protect domestic industries. The benefits of such a policy …

infinite future. In this paper I analyze the setting of tariffs in a two-country model taking account of adjustment processes … induces policy makers with a short planning horizon to set lower tariffs because it enhances the short run boom following a … cut in tariffs. Monetary policy that aggressively fights deviations from its inflation target leads to even lower tariffs. …

An often-neglected potential negative consequence of tariffs is the impact they may have on the misallocation of factor …-productivity firms to survive, thereby leading to a sub-optimal allocation of resources. This paper explores the impact of tariffs on the … allocation of capital using administrative data from South Africa. We find that tariffs are highly correlated with capital …