ABSTRACT
In fact, the political debate is more likely to revolve around the costs imposed on consumers or users of a product from a tariff that generates higher profits for producers. Those distributional effects typically are much larger than the deadweight losses. Some analysts pay less attention to the losses to capital from a change in trade policy, because capitalists can diversify their holdings across expanding and contracting industries. Workers do not have that same opportunity. Estimates of consumer losses per job saved in trade-impacted industries, however, have far exceeded what a worker would earn in the industry.2
