Effects Of Trade Tariffs: Government Protection (Research Paper Sample)
－Report on an International Economics issue
－annotated bibliography with at least 10 references
1. Screenshot all the citations from the original websites. Please provide the link as well as the specific
citation sentences(highlight all citations in the research paper you write for me).
2. Reading a variety of different sources will give you different points of view and can verify or contradict
information in other articles. Try to use sources from more than one country. If you only read English, you
should at least look for articles in the Financial Times and the Economist (UK) and English language
foreign newspapers or translations of foreign newspapers. Academic Lexis-Nexis has many foreign
newspapers published in English. Internet sources can be excellent but pay attention to their biases.
Anybody can have a website on any topic. The International Trade Reporter is an excellent resource for
many topics. Use the Library's excellent databases, not just Google. I do not want to see reliance on
Wikipedia as an important source in your paper.
3. You can use resources in Chinese but please cite them properly.
－The report should be double-spaced with a font size of 12 and one-inch margins. It should be 8 and 10 pages, not counting additional pages that may include graphs, tables and works cited. The paper should have a cover page (not part of page limit), headings, and pages should be numbered. You must properly reference your paper. This means both a list of “works cited” at the end of the paper and footnotes or parenthetic references (no endnotes) in the text. Your paper will be judged not only for the quality of your analysis but for the quality of your writing. It is important that your report be well organized, focused on the topic (not rambling), and clearly written. Make certain that you start the paper with an introduction stating the subject of the report. Proofread and take advantage of software such as “spell check.”
*1. Write in a balanced manner; let the data speak!
2. Run all papers through Turnitin or similar programs to check for excessive “cutting and pasting”!
Please provide a plagiarism-free report!
Effects of Trade Tariffs
Effects of Trade Tariffs
Traditionally, steel has been an important industry across the world. Additionally, steel is an important element of the economy. To protect this important element and industry, governments across the world have been and are willing to protect their industry. The global consumption of steel has been increasing over the years. America is one of the world's leaders in the production and consumption of steel, but the sector is crippled by the cheap steel imports from competitor countries. Throughout American history, different regimes have used the law to protect the sector with the aim of raising domestic prices and boosting the industry. Without the protection, the producers and consumers of steel face risks of job reduction, stiff competition from foreign rivals. The imposition of tariffs on steel imports violates the World Trade Organization guidelines. Although the tariffs are aimed at reviving the industry, they may cause more harm to the economy than their intended objectives.
After WWII, the United States steel industry continued with its leadership which it had enjoyed maintained for decades. The country was not importing steel since producing firms in countries such as Japan and Germany did not survive the war. The United States' steel exports increased significantly. However, in the 1950s, the destroyed companies in Japan and Europe recovered and begun to export steel to the United States of America. Although records indicate that domestic steel production increased by more than 45% between the 1950s and the beginning of the 21st century, the number of imports increased by more than 30,000 percent. The leadership position of the U.S steel industry was threatened in the 1970s and local consumers began to depend on cheap imports.[Coffin A Donald, The state of steel, Indiana Business Review, Spring 2003, Vol. 78, No. 1]
The protection of the U.S Steel industry is nothing new in its history. During the late 1960s, the US Steel industry began to request for protection against foreign players and subsidies to enable them to solve their problems. In the 1980s, quotas were imposed by the government which limited the number of imports to 18.5% of the domestic market. Additionally, the industry was further protected by voluntary restraint agreements. During the 1990s, the industry also received the protection of 12% from the Clinton administration against Japanese Steel. In the late 90s, all industry players joined hands to support the curbing of imports into the country. George Becker, the president of the United Steelworkers of America stated that the industry was suffering due to economic failures in foreign countries such as Russia, Brazil, and Japan. Due to pressure from the industry players and the Congress, Clinton was compelled to impose quotas based on Section 232 in 1969. Another attempt to protect the steel industry was made by President Jimmy Carter by imposing a price floor for imported steel. Technically, this was not a tariff but it forced foreign steel producers to maintain their prices at certain levels that do not undercut local producers.[Pearson Education. American Steel Quotas. Higher Education. Trump's newest trade policy has been tried before – and it was terrible for the US economy. Business Insider.
Recent presidents have also tried to revive the industry. For instance in 2001, to protect the industry, George W. Bush launched a Steel Program that consisted of three parts; negotiate with trading partners reduce the excess capacity, negotiate with trading partners to eliminate distorting partners and conduct an investigation under Section 201 to determine whether the harm was from the importation of cheap steel. ...
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