$20 Bonus + 25% OFF
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
Add File

Error goes here

MAE213 Written Assignment

tag 0 Download5 Pages / 1,234 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

lease read the following article in the Economist on March 24, 2018: “Why tariffs on steel and aluminium are easier said than done”. The article can be found following the assignment’s questions.
Please answer the following questions:

1. The article analyses the possible effects of the decision by President Donald Trump to impose tariffs on steel and aluminium imports. Note that the US can be considered to be a large importer of steel. Now assume that the United States trades only with Canada and imports its steel from Canada. Please provide a detailed welfare analysis of the impact of the US tariffs on US welfare. In other words, please analyze the impact of US tariffs on the US steel
producers, US steel consumers (such as the ones mentioned in the article) and US government tariff revenue. Also, please analyze the impact of the US tariffs on Canada’s welfare.Hint: in order to answer question 1 you can use the concept of the consumer surplus, the producer surplus and government tariff revenue.

2. The article argues that the Trump administration may not achieve its goal of limiting its aggregate imports of steel with its tariffs because similar measures on restricting steel imports in the past were not successful. Specifically, the article mentions the tariffs on steel imports imposed by George W. Bush in 2002:“Exemptions for Canada, Mexico, Israel and Jordan when George W. Bush imposed tariffs on steel imports in 2002 allowed the value of their exports to America to surge by 53%.”

From the UN Comtrade Database please use the real data of US steel imports from Canada,Mexico, Israel and the world to evaluate if this statement is justified by the data.Note the following chronology of the 2002 US steel tariff, which is not mentioned in detail the article. On March 5, 2002, the United States placed tariffs on imported steel. The tariff was effective on March 20. The United States lifted the tariff on December 4, 2003. Canada and Mexico were exempted from the tariffs because the tariffs are a violation of North American Free Trade Agreement of which United States, Canada and Mexico are members. The temporary steel tariffs are about 8% to 30%. Also not that the typical steel tariff at the time was usually less than 1 percent.

A few important notes for data collection:
(i) You are asked to get the data from UN Comtrade Database and not from any other source. It is the purpose of this exercise to ask students to learn how to collect data from UN Comtrade Database, the largest dataset of international trade at the country-sector-product levels. 

(ii) In order to evaluate the statement above please collect the data of US steel imports from the three countries (Canada, Mexico and Israel) and from the world from the US Comtrade Database by taking the following steps:
Step 1: use the following link to log into the UN Comtrade Database
Step 2: click on Legacy Annual under Legacy.
Step 3: select Express Selection under Data Query
Step 4: get the data by making the following selections:

For Classifications choose SITC Rev. 2.
For Commodity Codes/Text type 67. Note that SITC Rev. 2 classification 67 denotes Iron and steel.
For Reporters Codes/Text use Lookup to select USA (UN Country code: 842).
For Partners Codes/Text use Lookup to select World, Canada, Israel and Mexico (UN country codes: 0, 124, 376, 484). If students also choose Jordan (UN Country code 400)as a partner they find that the value of the United States steel imports from Jordan is relatively small and that UN Comtrade data on US steel imports from Jordan is only available for three years: 1988, 1989 and 2000. That is why, students only have to evaluate the statement using data on US imports from these three steel exporters: Canada, Israel and Mexico.

For Years please enter 1997, 1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006 and 2007.
Select Import.
Download the data. Note that the Excel file you download from UN Comtrade has 11 columns: Year, Reporter Code, Trade Flow Code, Partner, Classification, Commodity Code, Quantity Unit Code, Supplementary Quantity, Netweight (kg), Value and Estimation Code. Information on Year, Reporter Code, Partner Code and Value (in USD) is that you need to do Assignment’s .
Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Upload
Unique Document

Document
Under Evaluation

Get Money
into Your Wallet

Total 5 pages, 1 USD Per Page

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2021). Written Assignment. Retrieved from https://myassignmenthelp.com/free-samples/mae213-written-assignment/us-producer-surplus.html.

My Assignment Help (2021) Written Assignment [Online]. Available from: https://myassignmenthelp.com/free-samples/mae213-written-assignment/us-producer-surplus.html
[Accessed 19 April 2021].

My Assignment Help. 'Written Assignment' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/mae213-written-assignment/us-producer-surplus.html> accessed 19 April 2021.

My Assignment Help. Written Assignment [Internet]. My Assignment Help. 2021 [cited 19 April 2021]. Available from: https://myassignmenthelp.com/free-samples/mae213-written-assignment/us-producer-surplus.html.


At MyAssignmenthelp.com, we understand that when students get stuck with tough assignments, they look for affordable services. To assist students with complex assignments, we have built a team of skilled cheap essay writers. MyAssignmenthelp.com has become one stop solution for all students who often look for answers related to their search similar to do my essay at the cheap rate or who can write my essay at affordable prices. Students prefer hiring us as we have the best provisions to render services related to do my essay online at a reasonable rate.

Latest Other Samples

B203A Business Functions In Context

Download : 0 | Pages : 5

Answer: The aim of the report is to provide an insight into 3M, a Mining and Manufacturing Company, located in Minnesota. Five young entrepreneurs found the company that remained in the business for 100 yrs. Every stage of 100-year history of 3M has been a combination of enterprise and ingenuity (3m.com 2018). The report focused on the primary factors contributing to innovation, the importance of the commercialization for an innovative company l...

Read More arrow

MGT602 Business Decision Analytics

Download : 0 | Pages : 9

Answer: The business analysis has a significant role to play in the implementation of any project, which comprises of project development and project testing. The managers in the development department needs business analysis decisions, to help in modeling the internal business processes, data flow, to identify the critical components which impacts the performance and to prepare the test plans (Carlberg, 2010). Any business depends o...

Read More arrow

LD7028 Research And Project Management

Download : 0 | Pages : 4

Answer: Challenges encountered in the construction of the project While conducting the website design and management project it has been found that there are many challenges that may interrupt the success of the project. In order to initiate the project or evaluate the website design and management project the project manager should develop a scope statement. Besides the scope statement if accurate project objectives are not developed by then...

Read More arrow

PROJ6003 Project Execution And Control

Download : 0 | Pages : 7

Answer: Robert L. Frank Construction Company was engineering as well as Construction Company serving petroleum, chemical, mining as well as food processing industries from its headquarters. The services for the company are engineering, inspection, construction, consultation as well as purchasing (Snyder, 2013). The identified risks for Lewis Project are that the project is over budget as well as was not progressing to satisfy the customer. Th...

Read More arrow

EDN236 Teaching The Arts In Early Childhood And Primary

Download : 0 | Pages : 7

Answer: Introduction The stream of art is popularly known and offers wide opportunities among students in various fields like mass communication, teaching, counselling and many others. The main subjects’ options available in art are Drama, Dance, Media arts, Music and Visual Arts. Drama as a subject helps in understanding the difference between reality and portrayal. Drama as an art requires seriousness towards work and develops deep co...

Read More arrow Tags: Australia Melbourne Management University of Melbourne 
Next

Save Time & improve Grade

Just share requirement and get customized Solution.

watch
question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

Add File

Error goes here

1,653,646

Orders

4.9/5

Overall Rating

5,121

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat. If you are unable to calculate word count online, ask our customer executives.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 4/5

248 Order Completed

100% Response Time

Lloyd Bernabe

MSc in Accounting

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

93 Order Completed

100% Response Time

Jackson Mitchell

MiM (Masters in Management) in Supply Chain Management

New Jersey, United States

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

416 Order Completed

95% Response Time

Tyler Moore

MBA in Accounting

Washington, United States

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 4/5

2594 Order Completed

95% Response Time

Michael Johnson

Masters of MSc in Economics

Washington, United States

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

THANK YOU SO MUCH FOR YOUR ASSISTANCE AND HELP DURING THESE TIMES! YOU ARE ALL AMAZING

flag

User Id: 628956 - 19 Apr 2021

Australia

student rating student rating student rating student rating student rating

happy with the work happy with the work happy with the work happy with happy with the work h the work happy with the work happy with the work happy with the work happy with the work happy with the work happy with the work happy with the work happy wi...

flag

User Id: 618488 - 19 Apr 2021

Australia

student rating student rating student rating student rating student rating

happy with the work ,happy with the work happy with the work happy with the work happy with the work happy with the work happy with the work happy with the work happy with the work happy with the work happy with the work happy with the work happy wit...

flag

User Id: 618488 - 19 Apr 2021

Australia

student rating student rating student rating student rating student rating

Written really well and answered the questions well. Straight to the point and citations are placed well. Well informated.

flag

User Id: 545795 - 19 Apr 2021

Australia

student rating student rating student rating student rating student rating

Order on the go!

Say hello to our new app

callback request mobile
Have any Query?