WTO has ruled against U.S. steel tariff.

Sites to Visit for More Information:

1. World Trade Organization
2. UK Steel
3. Resources for Economists on the Internet

Questions:

1. What is the World Trade Organization?
2. Why did the United States impose a tariff on steel?
3. What effect does a tariff on steel have on
   i. the price of steel in the United States?
   ii. the supply of steel in the United States?
   iii. the demand for steel in the United States?
   iv. steelmakers in the European Union?
   v. efficiency in the world steel market?
4. Give an example of a tariff in the United Kingdom. Who benefits from this tariff?
5. Is there ever a case for protectionism?

Chapters: 33

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