This thesis investigates the determinants and outcomes of trade policy. The first chapter examines how perceived geopolitical risks stemming from an expected change in trade policy affect multinational firms. The second chapter investigates how aggregation bias leads to unrealistic estimates of the Protection for Sale model, in which lobbying drives trade policy, thereby addressing a longstanding puzzle in this literature. The third chapter studies how economies that implemented liberalizing reforms in view of their accession to the WTO benefited from more economic growth.