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Tariffs: Annotated Bibliography

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Summary of the Article The article was talking about Donald Trump, that plans to impose a tariffs on European Steel and aluminium. Trump is planning to impose a “25 percent tariff on imported steel, and a 10 percent tariff on imported aluminum” . This plan raising some concerns which can lead a tread war between some countries. Europe said, if U.S would really impose an import tariff to them, they’ll also give a retaliation by also imposed tariff to U.S Orange Juice, peanut butter, and other goods that might be really needed and important to U.S. Besides that, Emmanuel Macron, which is French President said “Unilateral responses and threats over trade war will solve nothing of the serious imbalances in the world trade. Nothing,” Because he also thinks that, this plan would cause an increasement in price, and unemployment. An economist say, by imposing this tariff on steel imports to the US, It can help to increase welfare on some local producers who produce any metal materials, and increase cost to some producers who cannot source all their raw materials locally and still need to import. Which means, will hurt the producer itself, and more expensive consumer prices. …show more content…

The statistic shows that in March 2016, the amount of import steel in Indonesia is 79.2 million USD, which is a perfect market to enter in Import sector. This condition would affect the local producers of steel in Indonesia, as they compete in price and quantity. People will tend to choose China more, so Indonesia’s demand of steel would decrease in Home country, that also would cause a worse off, even unemployment, and decline the national welfare in further. Moreover, because of the declining in Indonesia’s export sector, this will cause a worse off in the trust relationship between investors, which affects Indonesia’s

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