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Trade and American Leadership
The Paradoxes of Power and Wealth from Alexander Hamilton to Donald Trump

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  • Date Published: February 2019
  • availability: Available
  • format: Hardback
  • isbn: 9781108476959
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About the Authors
  • From the nation-building of Alexander Hamilton to the trade wars of Donald Trump, trade policy has been a key instrument of American power and wealth. The open trading system that the United States sponsored after the Second World War serves US interests by promoting cooperation and prosperity, but also allows the allies to become more independent and China to rise. The case studies in Trade and American Leadership examine how the value of preferential trade programs is undercut by the multilateral liberalization that the United States promoted for generations, and how trade sanctions tend either to be too economically costly to impose or too modest to matter. These problems are exacerbated by a domestic political system in which the gains from trade are unevenly distributed, power is fragmented, and strategies are easily undermined. Trade and American Leadership places special emphasis on today's challenges, and the rising danger of economic nationalism.

    • This book is historically grounded but focuses on present predicaments
    • Relates theory to actual practice
    • Bridges the divide between issues of politics and economics
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    • Winner, 2019 Choice Outstanding Academic Title

    Reviews & endorsements

    'After years of malign neglect, the critical role of American leadership in the international trading system is once again front and center in the public debate. Craig VanGrasstek has therefore done an enormous service in bringing forth this timely, thoughtful, and deeply informed study of American trade politics from the nation’s founding to the radical rupture being wrought by President Trump.' Benn Steil, Director of international economics, Council on Foreign Relations and author of The Marshall Plan: Dawn of the Cold War

    'This book is a must-read for anybody hoping to understand the forces behind the current and future US trade and foreign policy. It combines historical depth to explore the theory and practice of American hegemony over several decades, with thorough analyses of Washington’s slow shift from the multilateral to the preferential approach of trade and international relations - including its current episode of chaotic sanctions. An international political economy study at its best.' Patrick Messerlin, Sciences Po Paris

    'Craig VanGrasstek offers a sweeping account for understanding the trade policies of Alexander Hamilton, Franklin Delano Roosevelt, and Donald Trump - both nationalists and free traders - within one consistent geopolitical framework.' Gary Clyde Hufbauer, Peterson Institute for International Economics

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    Customer reviews

    02nd Feb 2019 by GiorgioChi

    Best Trade Book: a masterpiece to understand the current evolution of international trade and market prospects under new pressures of the foundations of free trade at duties of a hundred-year memory. Best author authoritative of those who have always known the rules of free trade from the 1947 General Agreement on Trade and Tariff to actual WTO. Unmissable.

    Review was not posted due to profanity


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    Product details

    • Date Published: February 2019
    • format: Hardback
    • isbn: 9781108476959
    • length: 500 pages
    • dimensions: 235 x 160 x 32 mm
    • weight: 0.84kg
    • contains: 20 b/w illus.
    • availability: Available
  • Table of Contents

    Part I. Introduction and Overview:
    1. The domestic diplomacy of trade and the paradoxes of power and wealth
    2. The theory and practice of the Anglo-American hegemonies
    3. After hegemony: power, wealth, and trade policy since the Cold War
    Part II. The Domestic Diplomacy of Trade:
    4. The domestic diplomacy of trade agreements
    5. The expanding scope of trade and the contagion of conflict
    6. Washington slept here: how Trump caught politicians napping on trade
    Part III. Trading with Allies:
    7. Defence vs. opulence: sea power and law in Anglo-American hegemonies
    8. The sun also sets: the Japanese challenge to the US auto industry
    9. Canada and the domestic diplomacy of US trade policy
    Part IV. Trading with Adversaries:
    10. The strategy and domestic diplomacy of sanctions
    11. Russo-American relations and the paradox of sanctions
    12. Trading with the NME: the Chinese challenge to US hegemony
    Part V. Trading with Developing Countries:
    13. The strategy and domestic diplomacy of trade preferences
    14. The elusive integration of the Americas
    15. War, peace, and trade in the Middle East
    Part VI. Trade and Trump:
    16. Power and wealth in the Trump administration and beyond.

  • Author

    Craig VanGrasstek, Harvard University, Massachusetts
    Craig VanGrasstek teaches at the Harvard Kennedy School, Harvard University, Massachusetts, and has previously taught at American University's School of International Service, Georgetown University's School of Foreign Service, the World Trade Institute, and the University of Barcelona. He is the author of The History and Future of the World Trade Organization (2013).


    • Winner, 2019 Choice Outstanding Academic Title

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