Introduction to International Relations - Introduction to International Trade Policy

Today's lecture explores the role of trade in international relations. At a high level, international trade is incredibly important for economic growth. Liberalizing trade rules allows countries to focus on what they are comparatively better at making and eliminates the absurdities of some international borders. However, although trade may be efficient at the country level, there will be winners and losers within one's own borders. We therefore spend time discussing how domestic politics interferes with liberalized trade policy. The lecture concludes with a brief foray into the national security concerns that trade can create. 0:00 The Growing Importance of International Trade 1:08 How One Image Reveals the Importance of Trade 5:13 Outline 13:13 Production Incapacities 15:37 Absolute Advantage 22:55 Comparative Advantage 33:00 Geographic Quirks 36:35 Trade Barriers as an Inefficiency Puzzle 37:58 Winners and Losers in Trade 47:12 Special Interest Groups 50:42 Negotiating Trade Deals 52:39 National Security Risks 59:16 Revenue Collection 1:02:05 Future Roadmap The appearance of U.S. Department of Defense (DoD) visual information does not imply or constitute an endorsement.