Trade Protection and the U.S. Economy: Examining the Evidence

America’s trade with the rest of the world expanded significantly after World War II. U.S. goods (exports plus imports) increased from 9.2 percent of gross domestic product in 1960 to 28.6 percent in 2007.This expansion of international trade has benefited the United States and its trading partners considerably. The benefits include a higher standard of living, lower prices for consumers, improved efficiency in production, and a greater variety of goods.

Robert Krol
Published in: Trade Policy Analysis
2008 No. 28