ipl-logo

Donald Trump Tariff Essay

620 Words3 Pages

Earlier this week, President Donald Trump introduced a plan that would include a 25 percent tariff on imported steel and a 10 percent levy on imported aluminum from every country, except Canada and Mexico. The tariff is an example of protectionism, which is when the government restricts trade through trade barriers in order to protect their economy. This is because in the last two decades, the domestic steel industry has been reduced by 35 percent, and between 2013 and 2016, the aluminum industry has contracted by 60 percent. Already following the order, U.S. Steel has announced that they plan to restore a blast furnace in Illinois. At the same time, Central Aluminum said that they were looking to devote $100 Million towards a smelter in Kentucky and hire 300 people. Trump plans to stop the importation of foreign steel into the U.S. This has caused some to be worried that this tariff will be detrimental towards consumers and producers, as well as America’s trading partners. Others say that this could be the beginning of a trade war that will leave farmers, ranchers, and …show more content…

The tariff, in this case, is being placed on steel and aluminum in America by President Donald Trump. Due to the tariff, the domestic production of steel will increase from Q1 to Q2. This will, in turn, result in an increase in the price of steel from P1 to P2. Therefore, the tariff will reduce the shortage in the market for steel from Q1 supply/Q4 demand to the Q2 supply/Q3 demand, increasing the price for both domestic producers and consumers. From Q4 to Q3 domestic producers are importing less from America thus decreasing the demand, and from Q2 to QE producers are supplying more, bringing economic growth. The shaded region below shows the revenue the government is receiving from the tariff. In correspondence with the graph below, it can be seen that the new equilibrium under the tariff would be placed at

Show More
Related

Ap World Trade Dbq Essay

790 Words | 4 Pages

For any country that wants to survive in the toughest of times, they need to have good trading capabilities. Very few countries are able to sustain themselves without indulging in intensive trade with other countries. Trading has been considered a good thing in the past, but with the changing world, there are doubts about the benefits of trading. There are some factors that lead to the development of trade networks between countries. When people started to settle in larger towns, the idea that you had to produce absolutely everything for survival, began to fade.

Read More

Compare And Contrast Hamilton And The Federalists

314 Words | 2 Pages

Protective tariffs are a high tax put on imports proposed by Alexander Hamilton. They also wanted to form alliances with the British because they like the stability British had. Even more,

Read More

Dbq Great Depression

1363 Words | 6 Pages

Famous economist, David Blanchflower, argued that this bill became “the most damaging piece of trade legislation in US history.” This tariff was not signed into law until June 17, 1930, with stocks being uplifted from the 1929 height, which makes it known as a backup factor. One of the reasons why 1,028 American Economics was because the tariff would raise the cost of living. With unemployment rising, less people were able to get jobs which made it harder to earn money. Second, was that farms wouldn't be helped because, “Cotton, pork, lard, and what are export crops and sold in the world market”.

Read More

Pearl Harbor Dbq

963 Words | 4 Pages

This is the beginning of a trend we see in these laws that were never said to be against one country, but clearly reflected that. 3 months after the Export Control Act in October 1940, Roosevelt added to it by officially embargoing scrap iron and steel to countries to nations other than those in the Western

Read More

Compare And Contrast The Election Of 1800-2016

1226 Words | 5 Pages

Trump’s attack on China for unfair trade relates to Madison and Jefferson’s proposal of stopping trade. The accusations and comments Trump has made throughout the course of his campaign and now Presidency can be predicted to have a high possibility of coming true, but only time will tell if these proposals are finalized. The hopes and future of America has been affected and changed from time to time. The guidance and leadership of a President not only reflects the possibilities of the nation, but the citizens who carry the weight of the country’s prosperity. Therefore the people can only hope that Trump will lead with mindfulness and dignity of the

Read More

Compare And Contrast The Economic Policies Of Farmers And Industrial Workers In The Gilded Age

1652 Words | 7 Pages

The aim of the protective tariffs was that the American market obtaining manufacture products were profitable. This was encourage of an industrial revolution after the Civil War and by putting import tax on manufacture goods that were imported in the United States

Read More

Opposing Views Of Thomas Jefferson And Alexander Hamilton

696 Words | 3 Pages

He suggests that this will help the economy in terms of creating a surplus of goods. Hamilton stresses government involvement to make the economy grow better. He proposed for a tariff on foreign goods, which is the taxing of imported foreign goods. He also called for an extension of machinery and more businesses. Saying that machinery will create a surplus of producers and consumer goods.

Read More

What Is The Federalist Paper No. 51 For A Strong Central Government

876 Words | 4 Pages

Hamilton’s policy was conversely more protectionist. He wanted to impose greater duties and embargoes on foreign imports of goods that could also be produced in the United States. Hamilton strove for a largely domestic system of production through which the benefits of domestic manufacture would far outweigh the costs. By producing goods internally, which would otherwise have been imported, the U.S. economy would thrive because of increased domestic competition where the gains from productivity would benefit all domestic industry. The increase in domestic producers would result in the secondary effects of more jobs, providing more opportunities for merchants to export American goods

Read More

Compare And Contrast The French And Indian War

490 Words | 2 Pages

Each state could put tariffs on trade between

Read More

What Was The Significance Of American Presidents From 1815 To 1917

2014 Words | 9 Pages

When understanding the significance of William McKinley and his developments in the economic maintenance of US society we come to appreciate the great advancements made by him in regards to the uplifting of American economy at the time. Once he had presumed the responsibilities of office, McKinley immediately turned his attention to measures for assuring economic recovery. McKinley was particularly passionate about keeping American investment within the country. It led to the Dingley Tariff Act of 1897 that protected manufacturers and factory workers from foreign competition and gave stability to the economy through the idea of ‘Protectionism’. The tariff continued for up to twelve years and became the highest tariff in American history.

Read More

Tariffs In The 1800s

164 Words | 1 Pages

The tariffs are customs duties applied to imports of products with two fundamental purposes, on the one hand being a source of income for the State and on the other, to protect certain sectors of the economy when importing products that can compete with domestic production. In 1828, Congress approved the "tariff of abominations," a crushing and hard tariff that explicitly sacrificed one part of the country to another. Northern manufacturers were getting almost all the benefits of protection, while southern farmers were forced to pay higher prices for comparatively lower US products and lost their cotton export markets because of foreign retaliation against the United States. In 1832, Congress raised tariffs even more. South Carolina declared

Read More

Essay On The Commerce Clause

684 Words | 3 Pages

The Commerce clause refers to Article 1, Section 8, Clause 3 of the United States Constitution, which gives Congress the power “to regulate commerce with foregin nations, and among the several states, and with the Indian tribes”. This clause is one of the most fundamental powers delegated to congress by the founders. It has helped to seprate the powers between the federal governemtn and the states, along with the branches of governemtn and Judiciary. In simpler terms the commerce clause was to help regulate commerce among navigable waters.

Read More

Is The Nation Changing

623 Words | 3 Pages

The protective tariff protects us product from other countries. Britain dumped the their products in the U.S. The central government got move over the states. Maryland tried to tax its national bank. Court ruled that a state cannot pass any laws that violate federal law.

Read More

Maker Women In Space Analysis

764 Words | 4 Pages

The documentary, Makers: Women in Space, details the somewhat treacherous path to the allowance of female astronauts. Women in STEM is one of the most controversial and talked about issues in not only academia, but in the workforce in general. From an early age, girls are discouraged from the STEM fields and geared toward the arts or other stereotypically feminine interests. The recent defunding of the American space progra, mNASA, reflects the uphill climb for women in STEM fields. This is not The film details that in the beginning, women only played supporting roles in the space endeavors of the United States.

Read More

Theme Of Magic In A Midsummer Night's Dream

2029 Words | 9 Pages

The use and misuse of magic are of great importance in the play, A Midsummer Night 's Dream. It is a recurring theme that is mostly seen with Puck. The use of magic by Puck helps in creating conflict, humor, and balance in play. Shakespeare employs this device in his play to mainly build and establish the theme of love. The role of magic in A Midsummer Night’s Dream is seen as an interference with the human world, however it is still separate from the human protagonists (Noone, 2010).

Read More

More about Donald Trump Tariff Essay

Related Topics

Open Document