This policy brief is one element in a series of hypothetical scenarios designed to examine both long standing and recently emerged issues in the trade policy debate, drawing upon the OECD METRO Model. This note describes an illustrative scenario that highlights the expected gains from trade liberalisation and the accompanying adjustment process. Results are presented in terms of estimated changes in economic output, trade (including at the sector level), incomes, and jobs. Finally, overall policy considerations are summarised.
Trade Policy and the Global Economy: Reducing Tariffs
