The WTO says that U.S. steel tariffs are illegal.

Sites to Visit for More Information:

WTO

U.S. Trade Representative

Resources for Economists on the Internet

Questions:

1. What is the role of the WTO in the world economy?
2. Why does the United States have tariffs on steel imports?
3. Who benefits from the tariff on steel imports into the United States? Who loses from the tariff on steel imports into the United States?
4. Do you agree with the “hit list” drawn up by the European Commission?
5. What advice would you give to the European Commission if the United States fails to comply with the WTO decision?

Chapters: 33

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