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Steel Industry Trade Policy
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Book Synopsis Politics vs Economics in World Steel Trade by : Kent Jones
Download or read book Politics vs Economics in World Steel Trade written by Kent Jones and published by Routledge. This book was released on 2017-10-10 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: There can be few industries which have generated as much political controversy as the world steel industry. Since 1968 the trade policies of both the US and the EEC have created a vicious circle of protectionism and delayed adjustment in their steel industries. In particular, protectionist policies by one government have tended to lead directly to rebound protectionist policies by the other. This book, first published in 1986, begins by tracing the historical roots of steel protectionism and describes the changing competitive structure of the world steel market which has led to increased government involvement in the traditional steel-making countries as they became vulnerable to imports from the newly industrialised countries. The most distinctive feature of the book is its economic analysis of a policy crisis; a crisis whose inner dynamics work against a viable solution.
Book Synopsis Trade Policy and Market Power by : Bruce A. Blonigen
Download or read book Trade Policy and Market Power written by Bruce A. Blonigen and published by . This book was released on 2007 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: A primary function of trade policy is to restrict imports to benefit the targeted domestic sector. However, a well-established theoretical literature highlights that the form of trade policy (e.g., quotas versus tariffs) can have a significant impact on how much trade policy affects firms' abilities to price above marginal cost (i.e., market power). The US steel industry provides an excellent example to study these issues, as it has received many different types of trade protection over the past decades. We model the US steel market and then use a panel of data on major steel products from 1980 through 2006 to examine the effects of various trade policies on the steel market. We find that the US steel market is very competitive throughout our sample with the exception of the period in which they received comprehensive voluntary restraint agreements (i.e., quotas) and were able to price substantially above marginal cost. All other forms of protection were in tariff form and had little effect on market power, consistent with prior theoretical literature on the nonequivalence of tariffs and quotas. We also find evidence that market power eroded over time in steel products where mini-mill producers gained sizeable market share, highlighting the role of technology in the market as well.
Book Synopsis Protectionism in the steel industry in the United States. Does trade protectionism lead to higher prices and massive job losses? by : David Onditi
Download or read book Protectionism in the steel industry in the United States. Does trade protectionism lead to higher prices and massive job losses? written by David Onditi and published by GRIN Verlag. This book was released on 2019-06-19 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2019 in the subject Business economics - Economic Policy, grade: A+, University of South Australia (McGill), course: International Business, language: English, abstract: The central research question is linked to the implications of protectionism in the steel industry in the US. The hypothesis is that trade protectionism leads to higher prices and massive job losses. The case study design is employed as is allows for the in depth understanding and examination of the steel industry in the US and the implications of the trade policies on the jobs as well as prices. The research applied archival research method applying a mixed methodology. The findings of the research indicate that the application of protectionism in the steel sector would harm not only the consumers but the industry being protected. It can be concluded that protectionism has negative implications in terms of higher prices and loss of jobs. The project was restricted by the research design as the use of a single case study limits the comparability and thus the generalizability of the results. The research focused only on the steel industry in the US thus restricting the applications of the findings in other sectors or industries in the US or even the steel industries in other countries. The research implies that trade policies in the US should favor the use of market forces dictated by the principles of the WTO rather than focusing on the nationalism of the economies. The economic nationalism in the United States has risen in the past couple of years, fueled by and fueling the election of President Donald Trump. With the increased call for nationalism of the economies comes the view that protectionism has achieved great success in the history of the United States. However, the calls for greater protectionism ignores the vast amounts of academic analysis and contemporary reporting that indicates that the trade protectionism in the United States has led to immense economic costs on the economy and the American consumers.
Book Synopsis Economics of International Steel Trade by : Howard W. Pifer
Download or read book Economics of International Steel Trade written by Howard W. Pifer and published by . This book was released on 1977 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The New Iron Age by : Daniel J. Ikenson
Download or read book The New Iron Age written by Daniel J. Ikenson and published by . This book was released on 2006 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent media coverage of a U.S. International Trade Commission proceeding concerning certain steel tariffs painted the issues as a clash between two U.S. industrial titans: the steel industry and the automobile industry. Although the auto industry and scores of steel-consuming industries have been harmed by the aggressive level of trade protection afforded the U.S. steel industry over the decades, the real story is not about steel versus autos. The real story is about the U.S. steel industry's historic metamorphosis and the costly failure of trade policy to adjust to that new reality. In a period of less than five years, the U.S. steel industry has undergone an extraordinary and unprecedented transformation. What was, as recently as 2002, a fragmented, perennially money-losing, capital-starved industry that relied on government for subsidized loans, protection from creditors, and insulation from foreign competition has become one of America's strongest, most profitable, and most promising manufacturing industries. Massive industry restructuring, the adoption of new and more flexible labor agreements, and a permanent outward shift in global demand for steel explain the industry's reversals of fortune and prospects. Despite the industry's renaissance, there remain in place some 136 antidumping and countervailing duty measures that restrict imports of 21 different kinds of steel products from 32 individual countries. These measures have long outlived their purposes, as the steel industry is no longer injured and foreign producers have ample alternatives to selling steel on the cheap in the United States. Instead, the trade remedy laws are serving only to bolster the market power of an emerging U.S. steel oligopoly, which could have seriously adverse consequences for U.S. steel-using industries and the economy as whole.
Book Synopsis A National Policy for Organized Free Trade by : Michael W. Hodin
Download or read book A National Policy for Organized Free Trade written by Michael W. Hodin and published by Routledge. This book was released on 2017-10-10 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the completion of the original writing in 1978, and the publication of this Garland edition in 1987, several important events came to pass which underscored the importance and relevance of the study of the US foreign trade policy toward steel in the late seventies. One can read the story of US trade policy toward steel in 1977-79 as a critical step in the path which has been moving the US from a policy of organised free trade to one where increasing scope is allowed to market forces.
Book Synopsis The Impact of Government Trade Policies on the Decline of the United States Steel Industry by : Colleen Marie Sullivan
Download or read book The Impact of Government Trade Policies on the Decline of the United States Steel Industry written by Colleen Marie Sullivan and published by . This book was released on 1987 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The U.S. Steel Industry in Recurrent Crisis by : Robert Crandall
Download or read book The U.S. Steel Industry in Recurrent Crisis written by Robert Crandall and published by Brookings Institution Press. This book was released on 2011-12-01 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the current difficulties facing the U.S. steel industry and policy options to tackle them.
Book Synopsis The International Steel Industry by : Ray Hudson
Download or read book The International Steel Industry written by Ray Hudson and published by Routledge. This book was released on 2017-03-16 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1989. The international steel industry suffered a major decline after the onset of world recession in 1973, perhaps suffering more plant closures and job losses than any other sector. This book analyses the decline, surveying the various factors which have contributed to it, such as changing production strategies, changes in demand and world trade and changing regional production trends. It goes on to examine the impact of decline on steel-making communities, considering the various local, national and international initiatives to assist the affected areas and the way these initiatives have been devised and implemented. The authors conclude that none of these policies has satisfactorily resolved the crisis in the old steel producing areas and that a major crisis in these areas continues. Finally they discuss the social and political options open to these localities for the future.
Book Synopsis America's Steel Industry by : Cuomo Commission on Trade and Competitiveness (N.Y.)
Download or read book America's Steel Industry written by Cuomo Commission on Trade and Competitiveness (N.Y.) and published by . This book was released on 1988 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Trade Policy as Corporate Welfare by : Robert W. McGee
Download or read book Trade Policy as Corporate Welfare written by Robert W. McGee and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper begins with a discussion of what constitutes corporate welfare, then proceeds to apply the corporate welfare concept to the steel industry in the United States. A review is made of the various government supports that the steel industry has enjoyed since 1969. Studies have estimated that support to the steel industry has totaled between $90 and $151 billion. The paper concludes with a discussion of the 30 percent tariff that George Bush imposed on foreign steel producers and suggests that the steel industry should be taken off welfare and allowed to sink or swim on its own.
Book Synopsis Optimal Trade Policies for the United States Steel Industry Under Conditions of Imperfect Competition by : Eric J. Pan
Download or read book Optimal Trade Policies for the United States Steel Industry Under Conditions of Imperfect Competition written by Eric J. Pan and published by . This book was released on 1994 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Competitive Status of the U.S. Steel Industry by : National Research Council
Download or read book The Competitive Status of the U.S. Steel Industry written by National Research Council and published by National Academies Press. This book was released on 1985-01-01 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the influences of technology and international trade policies on the troubled U.S. steel industry. Does leadership in technology guarantee competitive advantage in industrial markets? Or do the costs of production and the lack of investment capital offset technological gains for the domestic steel industry? Which international trade policies can help this industry, and which may be harming it? With these and other questions in view, The Competitive Status of the U.S. Steel Industry estimates global trends in steel trade, discusses patterns of production and consumption, and analyzes the possible effects of alternative governmental policies on this critically important industry.
Book Synopsis Impasse and Crisis in Steel Trade Policy by : Kent Albert Jones
Download or read book Impasse and Crisis in Steel Trade Policy written by Kent Albert Jones and published by . This book was released on 1983 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis US Tariffs on Steel and Aluminum and their conformity with the GATT by : Aristoteles Kourtidis
Download or read book US Tariffs on Steel and Aluminum and their conformity with the GATT written by Aristoteles Kourtidis and published by GRIN Verlag. This book was released on 2020-05-13 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2020 in the subject Business economics - Economic Policy, grade: 1,3, University of applied sciences, Gütersloh, language: English, abstract: “I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so.” These are the words of the current president of the US, Donald Trump. During the election for president in 2016 he made numerous protectionist election promises. One of his election promises was to create new jobs in the American industry. American companies should purchase on the domestic markets to strengthen the manufacturing sector and create jobs. Added to this is Trump's aversion to free trade agreements which makes him a supporter of tariffs. These two points are in line with the development of US tariffs on imports. Looking at the steel and aluminum industry, the USA introduced Tariffs during the term of Donald Trump. The import tariff on aluminum currently equals 10 % and the tariff on steel 25 % of the goods value. However, the US is as well one of the main responsible states in the creation of the General Agreement on Tariffs and Trade (GATT) which provides free trade and has been a contracting party of the trade agreement since 1948 which in other words means since the very first hour. The question in this context is to what extent tariffs and the GATT are compatible with each other and how it is possible for a contracting party to the GATT to levy tariffs at all. [...]
Book Synopsis Clashing Over Commerce by : Douglas A. Irwin
Download or read book Clashing Over Commerce written by Douglas A. Irwin and published by University of Chicago Press. This book was released on 2017-11-29 with total page 873 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs
Book Synopsis Trade Policy for Troubled Industries by : Gary Clyde Hufbauer
Download or read book Trade Policy for Troubled Industries written by Gary Clyde Hufbauer and published by Peterson Institute. This book was released on 1986 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:
