The Politics of Trade in Steel Case Study MGT448

As the world grows and advances, industrial globalization occurs. Industrial globalization affects the economies of more(prenominal) nations throughout the world. One constancy whose globalization has affected the monetary value and supply of its product is the brand industry. In the digest a few(prenominal) years, the brace industry has experienced an increased call for for leaf blade, which in turn has caused the cost of brand to increase drastically. 1. Do you regard the scrub governing was correct in rattling(a) tariffs in March2002 on a wide range of steel imports?I swear that hot seat Bush needed to do something to comfort the US steel market. At the time that President Bush decided to impose temporary tariffs on steel imports, 16 steel manufacturers were already operating under loser protective cover (Hill, 2005). The whole idea of the tariffs as explained by Leo Gerard, the chairwoman of the United Steelworkers of America, was to protect American jobs by giving the industry a chance to rebound and to flow the steel manufacturers a chance to upgrade their mills so that they could compete against the more efficient strange producers (Hill, 2005). I believe the Bush administration tried, but in the end, the tariffs unless protected the cabbage of steel employees. 2. Who are the main beneficiaries of protective tariffs such as those oblige on steelimports? Who are the losers?

The main beneficiaries are sibyllic to be the American economy, domestic producers and employees against foreign competition, and to raise funds for the national government (Hill, 2005). O n the other side, the increase in tariffs on! ly hurt the consumers and foreign businesses by increasing the prices of steel and well-nigh starting a trade war with foreign economies. Since the US had established tariffs on steel, other countries had begun counteracting by formal their accept tariffs against US exports and began to seek... If you want to get a blanket(a) essay, nightspot it on our website: OrderCustomPaper.com

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