blocs. We hold that to maintain logical consistency in a world of symmetric trading blocs, an individual bloc should act on … world as a whole as assumed by Krugman, and show that Krugman's seemingly innocuous choice of the world price of a given … schedule is monotonically decreasing in our relative bloc size, and that the world welfare increases with our new relative bloc …

climate policy community. Key remaining parties to the Agreement such as Europe and China might call for carbon tariffs on US … constitute a credible threat for the US. A tariff war with its main trading partners China and Europe might make the US worse off … than compliance to the Paris Agreement but China, in particular, should prefer US defection to a tariff war. …

climate policy community. Key remaining parties to the Agreement such as Europe and China might call for carbon tariffs on US … constitute a credible threat for the US. A tariff war with its main trading partners China and Europe might make the US worse off … than compliance to the Paris Agreement but China, in particular, should prefer US defection to a tariff war. …

negotiations? And what would happen to trade policy cooperation if the world trading system had a different institutional design …