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Yumimiku5989
Yumimiku5989
05.12.2019 • 
Business

After a year-long investigation, the international trade administration yesterday announced a five-fold increase in tanifts on imported chinese steel. the new tariff of 265.79 percent will make chinese steel imports prohibitively expensive. this was good news for u.s steel producers, who had asked the ita for tanift relief, claiming that china was untairly subsidizing its steel exports. the resultant dumping of chinese steel had forced domestic steelmakers to close factories and eliminate 12,000 jobs they claimed. the new tarifts apply to cold-rolled flat steel that is used to manufacture appliances, cars electric motors, containers, and in construction. last year, over $270 million of that steel was imported trom china china's commerce ministry called the move tirrational and said it would harnm cooperation between the two countries source media repoits, maxch 2, 2016 instructions: round your responses to two decimal places a. how much was the tariff on chinese steel imposed in 2016? b. if china was selling its steel for $50 a ton, what would that steel cost american automakers? per ton

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