Question
You are applying for a job opportunity in a business consultancy firm in Victoria, BC after you graduated from your MGM program. The hiring manager
You are applying for a job opportunity in a business consultancy firm in Victoria, BC after you graduated from your MGM program. The hiring manager invites you to participate in the next step of this competition, which is an interview. During the interview, because the position demands knowledge of international economics, the interviewer asks for your perspective on the United States' imposition of tariffs on steel imports in 2018. She would also like to know what the sudden policy change meant for Canada, which exports a lot of steel to the US. a) Describe the effects on U.S. producers of steel and U.S. consumers of steel after the United States imposed tariffs on steel imports in 2018. b) Also describe the effect of the tariff on Canadian steel producers and on Canadian companies that use steel in their manufacturing process. c) Please explain the overall effect on the United States economy of the tariffs and why the United States is a large importer of steel. d) Please explain to her two reasons why free trade is good and protectionism is bad for economies. e) Please explain to her why, despite being bad for economies, tariffs (protectionism) is still favored by some groups and how those groups are sometimes able to convince politicians to enact protectionist policies
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