Ms. Naheed Kirmani, Mr. Lorenzo L. Pérez, Mr. Shailendra J. Anjaria, and Mr. Zubair Iqbal
closer monitoring of sudden increases in steelimports (the anti-surge mechanism). Subsequently, the U.S. steel industry dropped its dumping complaints.
Notwithstanding the efforts to protect and restructure the industry, U.S. steel production declined from 132 million tons in 1974 to 102 million tons in 1980; during the same period apparent consumption fell from 146 million tons to 118 million tons, and employment dropped by 18 per cent. Following the implementation of the trigger price mechanism, steelimports declined and their share in apparent consumption fell
Former colonies pay premiums for iron and steelimports, seriously draining resources. A lack of competition amongst suppliers may be the cause
Many empirical studies show that a lack of aggressive competition in domestic markets of industrial countries leads to higher prices, inflated profits, and a less efficient allocation of resources. Intuitively, economists assume this relationship also holds true for goods traded internationally. If so, the policy implications for developing countries are critical, as these nations must pay the lowest
International Monetary Fund. Western Hemisphere Dept.
national security implications of aluminum and steelimports under section 232 of the Trade Expansion Act of 1962. Canada accounts for some 15 percent of U.S. steelimports and almost 40 percent of aluminum imports but steel and aluminum products represent less than 2 percent of Canadian exports and imports.
3. In response, Canada introduced surtaxes on C$16.6 billion of imports of steel, aluminum, and 79 consumer products from the U.S, which the Canadian authorities indicate is equivalent to the value of 2017 Canadian exports affected by the U.S. tariffs . Steel
Alberto Cavallo, Ms. Gita Gopinath, Brent Neiman, and Jenny Tang
3 US Imports
3.1 US Imports from China
3.2 Tariffs on SteelImports
3.3 Summary of Results on US Import Tariffs
4.1 Data from the Largest US Retailers
4.2 Two Retailers with Country of Origin Information
4.3 International Comparisons: Evidence from Canada
4.4 Other Adjustment Margins: Front-Running and Trade Diversion
4 US Retail Prices
5 US Exports
1: Import Price Indices, by China Tariff Wave
2: Frequency of Monthly Price Changes (Quarterly Averages)
V. R ecent U.S. T rade and A gricultural P olicies and T heir I nternational I mplications 1
1. During the past year, U.S. trade policy has moved in apparently conflicting directions ( Box 1 ). The United States has promoted trade liberalization in the context of the 2001 Doha Ministerial Round, as well as in work toward regional and bilateral free-trade agreements. At the same time, however, recent U.S. tariffs on steelimports and hikes in agricultural subsidies have triggered threats of retaliation from trading partners and have raised questions