Question

4. The current debate about tariffs is certainly prompting a lively debate in the media and in analysts circles around the world. Please answer each of the components below which center on this issue. Where indicated provide a citation of sources for facts that you present.

a. Using a supply and demand approach in the domestic (US) market for steel and aluminum show the price effects of the tariff on steel and aluminum sold in the U.S. Yes you are required to include a graph and a full explanation of the graph.

b. We have heard “one side” in the debate say that a tariff is justified because it protects US workers. Please “find” those workers in the diagram you made for part a. above.

c. It is thought by some that other countries will either raise or create tariffs on US goods sold in those countries or implement some other type of trade barrier. Find at least 3 examples of goods that face some form of entry barriers or tariffs by other countries – the entry barriers may be a tariff or they may be some non-tariff force that blocks US goods from being imported by those countries.

Answer 1

Motorcycles, cars and tallow, fat etc from usa face restrictions

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