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Tutorial 6 Summary of Case Study: The Politics of Trade in Steel

The document summarizes three case studies: 1) The Bush Administration imposed tariffs on steel imports to protect domestic steel jobs but it unintentionally led to job losses in steel-consuming sectors due to higher costs. 2) Agricultural subsidies and tariffs in developed nations hurt farmers in developing countries by limiting their agricultural export earnings while providing little benefit internally. 3) The collapse of the Doha Round of trade talks set back global trade liberalization and economic prosperity.

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Ankur Tripathi
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100 views2 pages

Tutorial 6 Summary of Case Study: The Politics of Trade in Steel

The document summarizes three case studies: 1) The Bush Administration imposed tariffs on steel imports to protect domestic steel jobs but it unintentionally led to job losses in steel-consuming sectors due to higher costs. 2) Agricultural subsidies and tariffs in developed nations hurt farmers in developing countries by limiting their agricultural export earnings while providing little benefit internally. 3) The collapse of the Doha Round of trade talks set back global trade liberalization and economic prosperity.

Uploaded by

Ankur Tripathi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Tutorial 6

Question 1
Summary of Case Study: The Politics of Trade in Steel
The opening case illustrates the nature of such political realities. The case describes
the Bush Administration imposed tariffs on imports of foreign steel into the United
States. The tariffs were designed to protect jobs in politically important steel
producing states. However, the tariffs had unintended conseuences that apparently
outweighed any positive effects. The tariffs raised costs to U.S. steel consumers, and
resulted in lower profits and job losses in steel consuming sectors. !iscussion of the
case can revolve around the following uestions"
#i$ The United States imposed the steel tariffs in an effort to protect American jobs in
politically important steel producing states. %et, ultimately, the effect of the tariffs
was jobs losses in other sectors and higher prices for consumers. &'plain the
unintended effects of the steel tariffs.
#ii$ (n your opinion, how would Smith, )icardo, and Hec*sher+,hlin #see -hapter .$
view the actions of the Bush Administration with regard to the steel tariffs/
Question 2
Summary of Case Study: Agricultural Subsidies and Develoment
The closing case describes the government sponsored subsidies and tariffs on
agricultural products in the United States and &U countries. The subsidies and tariffs
protect farmers in those countries from low commodity prices, however at the same
time, hurt farmers in the developing nations. According to the United 0ation, the
subsidies and tariffs effectively cancel out the aid provided by the developed world to
the developing nations by limiting e'port earnings from agricultural products.
!iscussion of this case can revolve around the following uestions"
#i$ (f agricultural tariffs and subsidies to producers were removed overnight, what
would the impact be on the average consumer in developed nations such as the
United States and the &U countries/ 1hat would be the impact on the average
farmer/ !o you thin* the total benefits outweigh the total costs, or vice versa/
#ii$ 1hy do you thin* governments in developed nations continue to lavish e'tensive
support on agricultural producers, even though those producers constitute a very
small segment of the population/
Question !
The collapse of the !oha )ound of trade tal*s represents a dramatic setbac* to the
process of building a more prosperous global mar*et. Briefly e'plain the reasons for
the collapse of the !oha round and its dramatic implications for the future of trade
and global economic growth.

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