The article looks at how prices, markups, and costs change when trade rules are relaxed. By studying data from India, the researchers found that when trade barriers were reduced, prices at factories went down slightly. However, the costs of making products went down more because of lower tariffs on materials. To make up for this, companies raised their markups, which lessened the impact of the cost savings on prices. This means that while companies made more money, consumers didn't see as much benefit right away. Over time, though, the researchers suggest that consumers could benefit more as companies grow and introduce new products.