determination by the Commerce Department that the Japanese firms were dumping, the U.S. International Trade

Commission imposed a 63% dumping margin (or tax) on the import of flat-panel displays. Was this a successful

exercise of U.S. trade policy? See what you think after reading the chapter.

The world has become more connected on multiple levels, especially economically. In 1970, imports and

exports made up 11% of U.S. GDP, while now they make up 32%. However, the United States, due to its size, is

less internationally connected than most countries. For example, according to the World Bank, 97% of

Botswana’s economic activity is connected to trade. This chapter explores trade policy—the laws and strategies

a country uses to regulate international trade. This topic is not without controversy.

As the world has become more globally connected, firms and workers in high-income countries like the United
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