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How to Win a Trade War
An Optimistic Guide to an Anxious Global Economy
By Soumaya Keynes and Chad P Bown
Table of Contents
About The Book
An irreverent and invaluable guide to our new era of economic competition, written by Financial Times columnist and podcaster Soumaya Keynes and Chad P. Bown of 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 we are in an era of trade conflict and can no longer avoid the fight. Trump’s latest tariff announcement can jolt markets, push prices up, and sour decades-long alliances. China’s export restrictions on rare earths could bring the West’s car production to a halt. Curbs on trade in cutting-edge chips could determine who wins the AI race.
Keynes and Bown argue that the rules of the game have been abandoned, and a different strategy is needed. Yearning for the old approach to start working again isn’t an option. Countries must adapt, which means learning from history, economics, and from each other—including China. The stakes couldn't be higher.
The authors explore the history, the players, and the rules of trade, and consider how we can prepare for what the future might hold. What would all-out economic warfare look like? Could trade wars lead to hot wars? What can the West learn from China?
Accessible and leavened with an appealing wit, this book explains how to win a trade war, where “winning” might mean minimizing the losses, and the weapons that we wield—subsidies, stockpiles, export restrictions and, of course, tariffs—have the potential to hurt us, too.
How to Win a Trade War is the guide to one of the global economy’s biggest challenges.
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 we are in an era of trade conflict and can no longer avoid the fight. Trump’s latest tariff announcement can jolt markets, push prices up, and sour decades-long alliances. China’s export restrictions on rare earths could bring the West’s car production to a halt. Curbs on trade in cutting-edge chips could determine who wins the AI race.
Keynes and Bown argue that the rules of the game have been abandoned, and a different strategy is needed. Yearning for the old approach to start working again isn’t an option. Countries must adapt, which means learning from history, economics, and from each other—including China. The stakes couldn't be higher.
The authors explore the history, the players, and the rules of trade, and consider how we can prepare for what the future might hold. What would all-out economic warfare look like? Could trade wars lead to hot wars? What can the West learn from China?
Accessible and leavened with an appealing wit, this book explains how to win a trade war, where “winning” might mean minimizing the losses, and the weapons that we wield—subsidies, stockpiles, export restrictions and, of course, tariffs—have the potential to hurt us, too.
How to Win a Trade War is the guide to one of the global economy’s biggest challenges.
Product Details
- Publisher: Simon & Schuster (May 26, 2026)
- Length: 288 pages
- ISBN13: 9781668221310
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Raves and Reviews
"“Easily digestible.” —Kirkus Reviews
“Who knew that trade policy could be fun? Soumaya Keynes and Chad P. Bown take a subject usually weighed down by a deadly combination of economese and legalese and turn it into a breezy romp, without dumbing it down at all. They even offer some novel policy guidance for a transformed world. An amazing book.” —Paul Krugman, Nobel laureate in economics
“Practical, forward-looking, and full of insight, this book is crucial reading for anyone trying to make sense of today’s trade disputes.” —Chris Miller, author of Chip War: The Fight for the World’s Most Critical Technology
“Timely, witty, and wise—you could not ask for a better guide to the new economic order.” —Tim Harford, author of How to Make the World Add Up: Ten Rules for Thinking Differently About Numbers
“Trade wars are here to stay, whether we like it or not. Soumaya Keynes and Chad P. Bown have written the guide we all need to this vitally important topic.” —Tyler Cowen, coauthor of Talent: How to Identify Energizers, Winners, and Creatives Around the World
“Storms are battering global trade, and there are no better navigators through these choppy waters than this intrepid duo. A sharp-witted exposition of how global trade has created both prosperity and new points of vulnerability, this bracing book is for anyone trying to understand how states wish—perhaps to their peril—to refashion national economies.” —Dan Wang, author of Breakneck: China’s Quest to Engineer the Future
“Finally I understand what Donald Trump is on about. Well, some of the time.” —Helen Lewis, author of The Genius Myth: A Curious History of a Dangerous Idea
“Trade wars are not supposed to be fun, but this book is. An entertaining and enlightening guide to the fractious global economy, How to Win a Trade War is a must-read for anyone seeking to understand the economics and the politics that are shaping the twenty-first century.” —Duncan Weldon, author of Blood and Treasure: The Economics of Conflict from the Vikings to the Modern Era
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Hardcover 9781668221310
How to Win a Trade War
An Optimistic Guide to an Anxious Global Economy
By Soumaya Keynes and Chad P Bown
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