ABSTRACT
Trade policy refers to the regulations and agreements that control imports/exports to/from foreign countries. In general, the design of trade policy, similarly to the negotiation of an international trade agreement (ITA), is subject to economic and political considerations. New political economy of trade policy emphasizes the political interaction of self-interested subjects (politicians, economic lobbyists, voters, etc.) in an institutional context of decision-making. Trade policy is viewed as being determined jointly by the objectives of policymakers, the influence over policy exerted by the would-be winners and losers from that policy including free trade policy and by the institutional setting governing the interaction between policymakers and by those affected by protection.2
