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Instead of being charged with a 30 percent tariff, the European Union should have had a less percentage. This way the Bush Administration could have still attempted to rescue the steel industry, and peacefully continue to trade with the European Union.
2. When Tariffs are imposed, it can be beneficial to some parties, and costly to others. Tariffs are mainly used to protect domestic producers and employees from foreign competitors. A tariff raises the cost of imported products, therefore creating an advantage for the domestic producer with cheaper prices over the foreign producer. Tariffs benefit the government, due to the fact that it increases government revenues and it benefits the domestic producer...
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