Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Chicago - based Century Aluminum Co . predicted that the new tariffs would strengthen the U . S . supply chain and make the country

Chicago-based Century Aluminum Co. predicted that the new tariffs would strengthen the U.S. supply chain and make the country less reliant on unfriendly countries...
"A thriving domestic aluminum market is essential to today's U.S. national security," Century said.
Pittsburgh-based Alcoa Corp. said the tariffs are a good first step, but called for sanctions against Russian aluminum that would effectively make it illegal to buy or sell Russian aluminum in the U.S...
Analysts and company executives said they don't expect a repeat of the 2018 price surge when the new 200% duty on Russian aluminum takes effect on March 10. They said the Biden administration has been telegraphing the move for months, giving the aluminum industry time to adjust to the duty. Imported aluminum from Russia already carries a 10% tariff put in place by the Trump administration in 2018."U.S. market participants weren't surprised by the announcement," said Christopher Davis, regional pricing director for Americas metals at S&P Global Commodity Insights. "They said the increased tariffs were unlikely to have a significant impact on U.S. pricing."
Which of the following best describes the arguments made by US aluminum companies?
US aluminum companies are seeking to increase consumer surplus.
US aluminum companies are seeking to lower aluminum prices for consumers.
US aluminum companies are seeking to increase producer surplus.
US aluminum companies are seeking to protect the national security of the country.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Applied Econometric Time Series

Authors: Walter Enders

4th Edition

1118808568, 9781118808566

More Books

Students also viewed these Economics questions

Question

Give their ideas to the group.

Answered: 1 week ago