What will happen to the supply of foreign steel in category

Assignment Help International Economics

Reference no: EM13242791

The US International Trade Commission's committee in charge of the global safeguard investigation involving imports of steel has announced its recommendations to be forwarded to the president. Of the 33 steel product categories investigated, 12 have experienced a significant increase in the quantity of imported steel, causing serious injury or the threat of serious injury to the US steel industry. The commission has recommended that the president impose a 20 percent tariff on these 12 categories of imported steel. If the president follows the commission's recommendations, what will happen to the supply of foreign steel in these categories? What impact will this have on the equilibrium quantity of steel sold (in these categories) in the United States? Will the equilibrium price for these categories of steel in the United States market increase or decrease? Explain.

Reference no: EM13242791

Questions Cloud

What is the forward price : A stock is expected to pay a dividend of $2.20 per share in 1 months and in 4 months. The stock price is $54, and the risk-free interest rate is 11% per annum with continuous compounding for all maturities. An investor has just taken a long position ..

Explain the effect on the partial pressure of so3 : Assume the temperature of the mixture is chosen so that Kp=0.12. Predict the effect on the partial pressure of SO3 as equilibrium is achieved by using Q, the reaction quotient.

Lewis milestone made in turning erich maria remarque''s novel : Do the changes director Lewis Milestone made in turning Erich Maria Remarque's novel All Quiet in the Western Front into the Best Picture of 1930 strengthen or weaken the story? See below for a list of a few changes.

Find the greatest acceleration : Plutonium decays radioactively by emitting an alpha particle from its nucleus, If the alpha particle comes from the surface of the Plutonium nucleus, what is its greatest acceleration

What will happen to the supply of foreign steel in category : The US International Trade Commission's committee in charge of the global safeguard investigation involving imports of steel has announced its recommendations to be forwarded to the president.

What is the amount of net fixed assets : ABC Company has net working capital of $2,612, current assets of $9,741, long-term debt of $2,652, and equity of $3,926. What is the amount of net fixed assets?

Find the horizontal component of balls velocity : A baseball is thrown horizontally at a speed of 43 m/s. When it reaches home plate, what is the horizontal component of its velocity

What recommendations will you take to the new president on : Merged carriers include America West and US Air to make US Airways, and under consideration today, the joining of Delta and Northwest Airlines. Upstarts like Jet Blue, Southwest, Virgin, Midwest Express, and Trump have proven able entrants into sp..

Explain how many atoms of hydrogen are in (c3h5)2s : a) how many moles of sulfur are in 23.2 g of (C3H5)2S, b) how many atoms of hydrogen are in 0.75 mol of (C3H5)2S, c) how many grams of carbon are in 4.20 x 10^23 molecules of (C3H5)2S, d) how many atoms of carbon are in 15.0 g of (C3H5)2S

User Account

All Pages