Steel Tariffs Essay by premium papers

Steel Tariffs
This paper discusses tariffs, the politics of trading in the commodity of steel.
# 63847 | 1,430 words | 6 sources | APA | 2005 | US

$19.95 Buy and instantly download this paper now


This paper explains that a tariff is a tax levied by a government on imports and exports, which can be a major source of revenue for governments but is usually used as a political and economic policy for the protection of domestic industries against foreign competition by making imported goods costlier than their domestic counterparts. The author points out that throughout U.S. history, various administrations have granted benefits to the country's steel and iron industry through high tariffs to keep the steel prices above the fair competitive levels; as a result of such pampering, the U.S. steel industry has failed to become economically efficient, has lacked innovation to remain competitive and been a notorious laggard in adopting new technology. The paper relates that the World Trade Organization (WTO) decision that the tariffs imposed by the U.S. government in March 2002 on steel imports was illegal because the U.S. tariffs on steel imports were illegal under global trade laws and because the U.S. had not sufficiently proven that cheap imports from overseas were the reason for the U.S. steel companies' problems.

Table of Contents
U.S. Steel Tariffs: Was it a Correct Decision?
Protective Tariffs: Main Beneficiaries and Losers
World Trade Organization on Steel Tariffs: Loss of U.S. Sovereignty? Why Did WTO Side with EU?
If All Tariffs on Steel are Removed

Cite this Essay:

APA Format

Steel Tariffs (2006, February 12) Retrieved December 09, 2019, from

MLA Format

"Steel Tariffs" 12 February 2006. Web. 09 December. 2019. <>