Use the data in the first table of Global Insights 6.1 to calculate U.S. tariff revenues on costume jewelry, glass and glassware, and rubber footwear.

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Use the data in the first table of Global Insights 6.1 to calculate U.S. tariff revenues on costume jewelry, glass and glassware, and rubber footwear.

Global Insights 6.1 The Welfare Costs of Tariffs: Estimates from Certain U.S. Industries Although current U.S. tariffs are quite low on average, tar- iffs remain high for some products. In 1994, Gary Hufbauer and Kimberly Ann Elliott from the Peterson Institute of International Economics (PIIE) published an analysis of the welfare costs of tariff protection in those industries where U.S. tariffs are especially high.* Some of their find- ings are presented in the table below. The information in the table includes consumer cost, the loss in consumer sur- plus due to the tariff (i.e., in terms of our analysis: $a + $b + $c + $d); producer gain, increased profits due to the tariff (i.e., $a); and deadweight costs of the tariff (i.e., $b + $d). Also included in a table is a measure of the consumer cost per job "saved" because of the presence of the tariff. The table shows that the consumer cost of protection, even on relatively small items in the total consumption bas- ket of the U.S. economy, can be large. What is even more dramatic than the overall costs is the extraordinarily high cost imposed upon consumers in order to maintain employ- ment levels in import-competing industries. This illustrates the relative inefficiency of a tariff as a job-creating policy measure. The PIIE study was undertaken using U.S. industrial and tariff level data from the late 1980s. Since then, there have been significant changes in the structure of American manufacturing, and the United States has adopted the tar- iff reductions negotiated in the Uruguay Round. The U.S. International Trade Commission (USITC) has undertaken and then recently revised a study on the current welfare costs of remaining tariff and other trade barriers. As it turns out, the industries identified in the PIIE study con- tinue to benefit from significant tariff protection, and the USITC provides an updated analysis of cost to the United States of maintaining this protection. The USITC study uses a computer model of the entire U.S. economy; it then ana- lyzes and projects what would happen to the U.S. econ- omy by 2015 if these remaining tariffs had been removed in 2005. The findings it reports differ to some extent from the types of numbers found in the PIIE study. The following table provides a summary of some of the results. Several things should be noticed about the results reported in this table. First, the average tariffs even for sectors identified as having high tariff protection are very low. None of