Task:
Based on the attached article authored by Sunny Glottmann and published on February 6, 2020 by Third Way, respond to the following questions:
1. Discuss the economic factors that should be accessed in analyzing the effects of enacting trade barriers such as tariffs and quotas.
2. State and defend your position on whether you support President Trump’s tariffs. Note—this is not a two or three sentence response.
3. Employment by U.S. steel mills has declined from almost 86,400 in 2019. President Trump has claimed that the main reason for the job losses in that time period has been due to imports. Is he correct? Cite your reference(s).
4. President Trump is not the first U.S. president to enact tariffs on steel and aluminum in the 21st century. Identify the other U.S. president and summarize the impact/results of those tariffs in term of job losses/gains within the U.S. manufacturing industry and the costs to businesses and consumers.
5. President Trump’s belief is that he has the right to enact tariffs on steel and aluminum based on Section 232. Briefly explain what that Section 232 pertains to.
6. U.S. companies and groups have increased their lobbying on tariffs to a level not seen in at least a decade. The number of outfits trying to influence the federal government in this area climbed to 496 in 2018 according to analysis from the Center for Responsive Politics. That represents a sharp increase from the less than 200 companies and groups that were lobbying on tariffs in each of the three prior years, as shown in the chart below. State and defend your position on whether you agree with lobbyists advocating protective trade measures for particular industries.
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