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Tariffs and steel: US safeguard actions

Author

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  • Greenville, Jared W.
  • MacAulay, T. Gordon

Abstract

A multiproduct spatial equilibrium model of world steel trade is presented in this paper. The model is used to analyse the impacts of the safeguard trade barriers brought about by the USA in order to protect their domestic industry from the so-called unfair competition. Emphasis is placed on the likely effect on the Australian industry and possible policy responses available to the industry. A case study is made of Australia’s three largest export products; namely, slab, hot-rolled and cold-rolled steel, which share some substitutability in supply and demand because of the nature of the industry. As a result of the safeguard barriers to steel trade, world steel prices fell and trade shifted away from the USA to other importing regions.

Suggested Citation

  • Greenville, Jared W. & MacAulay, T. Gordon, 2005. "Tariffs and steel: US safeguard actions," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(3), September.
  • Handle: RePEc:ags:aareaj:118505
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    References listed on IDEAS

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    1. Stephen Morris & Stephen Coate, 1999. "Policy Persistence," American Economic Review, American Economic Association, vol. 89(5), pages 1327-1336, December.
    2. Crandall, Robert W., 1996. "From competitiveness to competition : The threat of minimills to large national steel companies," Resources Policy, Elsevier, vol. 22(1-2), pages 107-118.
    3. Gary Clyde Hufbauer & Ben Goodrich, 2002. "Time for a Grand Bargain in Steel?," Policy Briefs PB02-01, Peterson Institute for International Economics.
    4. Batterham, Robert L. & MacAulay, T. Gordon, 1994. "Price-Linked Farm And Spatial Equilibrium Models," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 38(02), August.
    5. Jondrow, James M & Chase, David E & Gamble, Christopher L, 1982. "The Price Differential between Domestic and Imported Steel," The Journal of Business, University of Chicago Press, vol. 55(3), pages 383-399, July.
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