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Trade

Commentary

A Tale of Tariffs and the Making of the Modern Offshore Market

David Chan Smith
David Chan Smith argues that tariff regimes during the eighteenth century encouraged modern history’s first offshore markets to reroute goods through jurisdictions that faced lower tariff rates. This historical “entrepôt trade” could outstrip the legal trade of some goods and carries lessons for contemporary revisions to international trade.
Regulatory Capture

For My Enemies, Tariffs; For My Friends, Exemptions

Veljko Fotak
New research from Veljko Fotak, Hye Seung Grace Lee, William Megginson, and Jesus Salas shows that the United States tariff exemption process during the...
Commentary

America’s Advantage in Clean Production Can Make Manufacturing Great Again

Karthik Ramanna
Karthik Ramanna writes that if the United States adopts a trade policy based on a dynamic emissions accounting method, it can achieve President Donald Trump’s goal of leveling the manufacturing playing field for American companies by penalizing foreign “dirty” producers, while also mitigating inflation and the risk of a trade war.

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The publication of the Stigler Center at The University of Chicago Booth School of Business

ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.