Politics of Steel Trade

The Politics of Trade in Steel Page 316 1) Initially, when the tariff was imposed, its ending was to pull ahead the U.S. leaf blade diligence and protect Ameri seat jobs. At the time, 16 stain companies were in bankruptcy, and foreign companies were able to conjure up marque more(prenominal) efficiency and at a frown price. The tariff was also yet supposed to last 3 years. However, once it was put in place, it seems it did a lot more harm than good. Once this tariff was put into place, the price of U. S. blade rose. Countries part of the EU went to the WTO in order to receive compensation. The benefit of this tariff also was only approximately $240 million and only saved 5,000 jobs. While I believe the intentions of this tariff were good, in the end it caused a lot more problems and hurt the industry even more. 2) Protective tariffs should have benefited the U.S. and hurt foreign competitors. In this case though the foreign countries were able to produce steel more efficiently. In this case the steel tariffs were illegal and the countries macrocosm affected by this. The WTO ruled that the EU could impose tariffs on imports from the U.S. 3) I believe it does represent a loss of U.S. issue sovereignty. It shows that the U.S.

is not able to impose tariffs on goods, even if those tariffs argon to help protect products and jobs in the U.S. This case is showing that the WTO can simply overrule a countrys finality to impose tariffs. I think the WTO sided with the EU because countries in the EU because they were able to produce steel at a deject price and much more efficiency. The U.S. steel industry was in a bad way, and the WTO basically told the U.S. steel makers and the Bush nerve that this was not the way to fix it. 4) If all tariffs and subsidies were banned, the foreign steel makers would be the ones who benefit unless the U.S. can improve its own steel productivity and be able to compete at a more competitive price. If this were to happen, it would hurt foreign steel... If you want to chafe a full essay, order it on our website: Orderessay

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