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Effects of U.S. Trade Remedy Law Enforcement under Uncertainty: The Case of Steel


  • Jae W. Chung


This paper investigates the impact of U.S. trade remedy law enforcement on import penetration of foreign-manufactured steel into the U.S. steel market. Given the quasi-judicial process for implementation of the two provisions relevant to U.S. steel imports, section 701 (countervailing duty) and section 731 (antidumping duty), I derive the probability-augmented model to be used as the theoretical basis for the research. The results obtained in this paper indicate that the trade remedy policy was effective. However, the elasticity-measured degree of effectiveness was small.

Suggested Citation

  • Jae W. Chung, 1998. "Effects of U.S. Trade Remedy Law Enforcement under Uncertainty: The Case of Steel," Southern Economic Journal, Southern Economic Association, vol. 65(1), pages 151-159, July.
  • Handle: RePEc:sej:ancoec:v:65:1:y:1998:p:151-159

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    References listed on IDEAS

    1. Dennis W. Carlton & Glenn C. Loury, 1980. "The Limitations of Pigouvian Taxes as a Long-Run Remedy for Externalities," The Quarterly Journal of Economics, Oxford University Press, vol. 95(3), pages 559-566.
    2. Kolstad, Charles D & Ulen, Thomas S & Johnson, Gary V, 1990. "Ex Post Liability for Harm vs. Ex Ante Safety Regulation: Substitutes or Complements?," American Economic Review, American Economic Association, vol. 80(4), pages 888-901, September.
    3. Marino, Anthony M., 1988. "Products liability and scale effects in a long-run competitive equilibrium," International Review of Law and Economics, Elsevier, vol. 8(1), pages 97-107, June.
    4. Hamada, Koichi, 1976. "Liability Rules and Income Distribution in Product Liability," American Economic Review, American Economic Association, vol. 66(1), pages 228-234, March.
    5. Hamilton, Jonathan H & Sheshinski, Eytan & Slutsky, Steven M, 1989. "Production Externalities and Long-run Equilibria: Bargaining and Pigovian Taxation," Economic Inquiry, Western Economic Association International, vol. 27(3), pages 453-471, July.
    6. Ringleb, Al H & Wiggins, Steven N, 1990. "Liability and Large-Scale, Long-term Hazards," Journal of Political Economy, University of Chicago Press, vol. 98(3), pages 574-595, June.
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    Cited by:

    1. Bruce A. Blonigen & Benjamin H. Liebman & Wesley W. Wilson, 2007. "Trade Policy and Market Power: The Case of the US Steel Industry," NBER Working Papers 13671, National Bureau of Economic Research, Inc.
    2. Blonigen, Bruce A. & Liebman, Benjamin H. & Pierce, Justin R. & Wilson, Wesley W., 2013. "Are all trade protection policies created equal? Empirical evidence for nonequivalent market power effects of tariffs and quotas," Journal of International Economics, Elsevier, vol. 89(2), pages 369-378.
    3. Tansey, Michael & Raju, Sudhakar & Stellern, Michael, 2005. "Price controls, trade protectionism and political business cycles in the U.S. steel industry," Journal of Policy Modeling, Elsevier, vol. 27(9), pages 1097-1109, December.
    4. Burpitt, William J. & Rondinelli, Dennis A., 2004. "Foreign-owned companies' entry and location strategies in a U.S. market: a study of manufacturing firms in North Carolina," Journal of World Business, Elsevier, vol. 39(2), pages 136-150, May.

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