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Assignment Questions (Total: 30 points) Please refer to the assigned articles and apply what you have learned in Econ 335 to answer the following
Assignment Questions (Total: 30 points) Please refer to the assigned articles and apply what you have learned in Econ 335 to answer the following questions. Note: Please do NOT copy the questions in your report because it will result in similarity problem. Just write down the question # and your answers to the questions in order in your report. Please also include your full name, CWID, and your class section# on the top right of the first page in your report. Please submit your draft on Canvas at least one day early in case any technology problem occurs on the due date. You may submit your draft as many times as you want before the deadline. The system will overwrite the previous version. 1. According to the briefing articles, what are the effects on the U.S. producers of metals, U.S. consumers of metals, and the U.S. economy overall, after the United States imposed tariffs on steel and aluminum imports in 2018? (10 points) 2. According to the briefing articles, when America's trading partners imposed tariff retaliation, how would the tariff retaliation further affect the U.S. producers, consumers, and the U.S. economy overall? (10 points) 3. For the overall effects on the United States as a result of the import tariffs, explain why it matters that the United States is a large importer instead of a small importer of steel and aluminum. Please refer to what you learned from Chapter 4 in this course and explain the major differences between a small versus large country cases in the effects of import tariffs. (10 points) You may draw your own diagram(s) to help you explain. You can't copy and paste diagram(s) from the lectures or textbook directly. Diagrams are not counted into the page limit.
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