According to an article in the Wall Street Journal in early 2019, “United States Steel Corp. said it plans to add 1.6 million tons of steelmaking capacity next year by resuming the construction of a new furnace in Alabama as tariffs on foreign metal raise profits on domestic steel.” 

a. How does a tariff on imported steel make a U.S. steel company more profitable? 

b. Briefly explain whether each of the following groups is likely to be helped or hurt by a tariff on imported steel. 

i. U.S. firms, such as automobile firms, that use steel to make their products 

ii. U.S. consumers 

iii. Workers at U.S. steel firms 

iv. People who had invested in U.S. steel firms 

c. Would people in the United States helped by the steel tariffs necessarily support the tariffs? Would people who were hurt by the tariffs necessarily oppose the tariffs? Briefly explain.