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AbstractThe Trump administration has reversed a 70-year consensus and transformed both the substance of trade policy and the postwar role the US has played in its global management. It has also reconfigured the role of the president in the domestic trade policy process. Armed with the power and influence the US amassed during its long run as leader of the post-war liberal world economy, the Trump administration has used trade as its principle coercive weapon in foreign policy. It has achieved some success, albeit at high diplomatic cost and by putting at risk America's long-standing structural advantages in the world economy. Given that domestic discontent with the liberal world economy has increased significantly, it is likely that the core aspects of Trump's trade revolution will endure, even if subsequent administrations soften Trump's provocative execution of it.

There is striking consistency in the international economic behavior of the United States across the bipolar and unipolar eras. The United States has been simultaneously a system maker and privilege taker, and its ability to play that dual role has required the willing collaboration of foreign partners. U.S. influence over those partners, however, has changed in important ways. During the cold war the United States dominated international economic adjustment struggles. Its ability to prevail in those struggles after the cold war has been significantly compromised. The United States, notwithstanding its preponderant power, no longer enjoys the same type of security leverage it once possessed, and the very success of the U.S.-centered world economy has opened a greater range of international and domestic economic options for America's supporters. In the unipolar era the United States may continue to act its own way, but it can no longer count on getting its own way. Adapted from the source document.

There is striking consistency in the international economic behavior of the United States across the bipolar and unipolar eras. The United States has been simultaneously a system maker and privilege taker, and its ability to play that dual role has required the willing collaboration of foreign partners. U.S. influence over those partners, however, has changed in important ways. During the cold war the United States dominated international economic adjustment struggles. Its ability to prevail in those struggles after the cold war has been significantly compromised. The United States, notwithstanding its preponderant power, no longer enjoys the same type of security leverage it once possessed, and the very success of the U.S.-centered world economy has opened a greater range of international and domestic economic options for America's supporters. In the unipolar era the United States may continue to act its own way, but it can no longer count on getting its own way.