The U.S. Steel Industry: A History of Government Intervention and the Initial Impacts of the Section 201 Tariffs from March 2002 to October 2002
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Authors
Harms, Katie L.
Issue Date
2003
Type
Thesis
Language
en_US
Keywords
Alternative Title
Abstract
The U.S. Steel Industry has been challenged with a variety of problems
throughout its existence, including import dumping, decreasing domestic prices, producer
bankruptcies, unpaid pensions, and increasing unemployment. Historical policies and
procedures have failed to define a clear remedy for the industry, which has heavily relied
on the U.S. government for protection and expansion opportunities since the late
nineteenth century. In 2002, the U.S. steel industry is yet again claiming to be a victim of
excessive import dumping, and the government has eagerly responded with the Section
201 tariffs. The safeguard tariffs on imports of certain steel products were issued in
March 2002 by President George W. Bush to provide relief to the industry and allow the
domestic market to regain global competitiveness. Despite the U.S. government's
intentions to provide a remedy for the steel industry, including adjustments to increase
average domestic steel prices and increase average import steel prices, the negative
effects of the Section 201 tariffs on other U.S. and foreign industries have offset the
benefits of the tariffs on the domestic industry.
The fundamental section of my SIP, an analysis of the U.S. steel industry and the
initial effects of the Section 201 tariffs, strives to provide evidence against the
effectiveness of the tariffs, and demonstrates that government intervention is causing
international confrontations and struggles within the domestic economy, including losses
in production and employment for steel-consuming industries. The steel industry is not
recovering because of the tariffs; they are only hindering the expansion of the global steel
industry and other U.S. and international markets.
Description
ii, 64 p.
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U.S. copyright laws protect this material. Commercial use or distribution of this material is not permitted without prior written permission of the copyright holder.