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The Trump administration’s pursuit of protectionist trade policies was predicated to some extent on the belief that America was too lucrative a market to face retaliation. Using the most detailed data set of bilateral trade flows constructed to date for the interwar period, this column shows that in fact the US faced substantial and widespread retaliation from trade partners ....

United States , United Kingdom , New Zealand , Herbert Hoover , Robertj Samuelson , Peter Navarro , Us State Department Kottman , Foreign Policy Association Information Service , University Of Chicago Press , White House National Trade Council , World Economic , Washington Post , University Of Chicago , University Of Pennsylvania , Spain League , Research In Economic History , President Trump , Great Depression , British Imperial Preference , Trade Agreements Act , Political Economy , Reciprocal Trade Agreements , Defining Moment , American Economy , Twentieth Century , Tariff Retaliation ,