PROTECTING THE WORKING CLASS IN A GLOBAL ECONOMY – AN ANALYSIS OF THE 232 TRUMP TARIFFS ON THE AMERICAN STEEL INDUSTRY
Datum
2021
Autor:innen
Zeitschriftentitel
ISSN der Zeitschrift
Bandtitel
Verlag
University of Oregon
Zusammenfassung
Has the implementation of steel tariffs under the Trump Administration improved the production and profitability of the steel industry and increased employment? A brief history of America’s steel industry is provided to give an overview and perspective of more recent trends of the industry. This thesis then reviews the concepts of tariffs and globalization and explains how Trump implemented tariffs within the context of Section 232 of the Trade Expansion Act and contrary to decades of efforts to ease worldwide trade. Three domestic steel companies are analyzed for the effects from the “232 tariffs”. A geopolitical evaluation of Chinese steel production and trade are described to give context to how tariffs might operate in this era of globalization. It remains too soon to ascertain whether the 232 tariffs helped the industry and comprehensive analysis is complicated by the global pandemic. However, the Biden administration has not yet lifted the tariffs and appears to support them. Domestic steel production can’t be viewed in isolation and without evaluation of international politics and production. Tariffs may boost domestic production and profitability in the long run. New technology may preclude the need for hiring and may not bode well for the steel worker employment levels, regardless of tariff implementation.
Beschreibung
44 pages
Schlagwörter
Protectionism, Tariffs, National Defense, Steel Industry, Geo-Politics