How to Win a Trade War

A witty, essential guide to a new era of economic competition. From Soumaya Keynes, a columnist at the Financial Times and Chad Bown, a senior fellow at the Peterson Institute for International Economics.

We used to take trade for granted. Trillions of dollars of goods and services crossed borders each year, made possible by a global, rules-based system. Nobody paid too much attention to supply chains: they just worked.

Now, Trump’s latest tariff announcement can crash markets, ruin your pension, and sour decades-long alliances. China’s export restrictions on rare earths could bring the West’s car production to a crashing halt. Curbs on trade in cutting-edge chips could determine who wins the AI race. The stakes couldn't be higher. Trade wars are back.

In this irreverent guide to our economic world, Keynes and Bown explore the history, players, and rules of trade, asking how we prepare for what the future might hold. Could trade wars lead to hot wars? What can the West learn from China?

Timely, funny and informative, How to Win a Trade War argues that the old system is dead. But what will emerge in its place? And ultimately, what is at stake for you, your country, and your company?