{"id":22944,"date":"2023-07-04T15:58:04","date_gmt":"2023-07-04T15:58:04","guid":{"rendered":"https:\/\/www.goodacademic.com\/blog\/questions\/president-trumps-predecessors-made-similar-tariff-decisions-early-in-their-presidencies-and-came-to-regret-them-for-example-in-2009-president-obama-slapped-a-stiff-35-tariff-on-chinese-tires-after\/"},"modified":"2023-07-04T15:58:04","modified_gmt":"2023-07-04T15:58:04","slug":"president-trumps-predecessors-made-similar-tariff-decisions-early-in-their-presidencies-and-came-to-regret-them-for-example-in-2009-president-obama-slapped-a-stiff-35-tariff-on-chinese-tires-after","status":"publish","type":"questions","link":"https:\/\/www.goodacademic.com\/blog\/questions\/president-trumps-predecessors-made-similar-tariff-decisions-early-in-their-presidencies-and-came-to-regret-them-for-example-in-2009-president-obama-slapped-a-stiff-35-tariff-on-chinese-tires-after\/","title":{"rendered":"President Trump’s predecessors made similar tariff decisions early in their presidencies and came to regret them. For example, in 2009, President Obama slapped a stiff 35% tariff on Chinese tires after American companies"},"content":{"rendered":"

President Trump’s predecessors made similar tariff decisions early in their presidencies and came to regret them. For example, in 2009, President Obama slapped a stiff 35% tariff on Chinese tires after American companies complained about unfair competition. They said China was flooding America with tires at low prices, making it challenging for U.S. companies to compete. President George W. Bush put tariffs on many steel imports in March 2002, resulting in a $30 million hit to the economy, according to U.S. International Trade Commission. In addition, studies have shown they likely caused the loss of more jobs than they saved.<\/span><\/p>\n

“Both presidents also made a move only once. Rather than repeat it, they opted to follow a pattern that since the 1970s has seen U.S. presidents become more reluctant to grant domestic companies the broad “safeguards” that Mr. Trump imposes on China and other countries largely because most economists say the collateral damage outweighs the benefits” (Donnan, 2019, para 3).<\/span><\/p>\n

Yet inside the administration, some officials have also begun warning that if Mr. Trump does not move carefully, he risks upending some of the economic gains he has delivered with tax cuts and deregulation.<\/span><\/p>\n

Mr. Trump and his supporters have argued that he has been encouraging both U.S. and foreign companies to invest more at home by talking tough on trade. However, after hitting a high of $440 billion in 2015, overall foreign investment in the U.S. fell sharply each of the next two years. While it crept back up to <\/span>$296 billion<\/span><\/span> in 2018, that’s still down 38% from its previous high, according to the U.S. Commerce Department.<\/span><\/p>\n

Donnan, S. (2019). History suggests Trump tariffs could backfire. [online] Ft.com. Available at: https:\/\/www.ft.com\/content\/89c2d6b2-0095-11e8-9650-9c0ad2d7c5b5 [Accessed 24 Jan. 2018].<\/span><\/p>\n

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  1. What are tariffs, and why do they matter? Are they preferable to other trade restrictions, and if so, how? If not, defend your argument.<\/span><\/li>\n
  2. According to the Wall Street Journal, the U.S. “ran a global goods deficit of $810 billion” in 2017. There is much disagreement about the causes and effects, but tariffs can unquestionably bring many advantages. What might they be in any?<\/span><\/li>\n
  3. Most key U.S. trading partners also impose tariffs. Trump has complained about Canada’s 270 percent duty on dairy products. Is he just trying to level the playing field, or is he doing more harm than good?<\/span><\/li>\n<\/ol>\n

    It is not sufficient to state your opinions; you must be able to:<\/span>
    <\/p>\n

      \n
        \n
      • demonstrate your understanding of the case study information by accurately explaining the relevant concepts<\/span><\/li>\n
      • use the facts listed in the case study and the concepts in the textbook to draw your conclusions<\/span><\/li>\n
      • demonstrate exceptional critical thinking skills<\/span><\/li>\n
      • conduct research using the GMC Library<\/span><\/li>\n
      • apply the relevant concepts from the textbook chapters to the case study correctly<\/span><\/li>\n
      • include facts from the case study to support your position<\/span><\/li>\n<\/ul>\n<\/ul>\n

        Through writing this case study, you will demonstrate how to relate case study data\/findings to international business concepts, conduct research, and cite sources using APA formatting guidelines properly. You will be responsible for using a <\/span>minimum<\/span><\/span> of <\/span>2 scholarly\/peer-reviewed sources<\/span><\/span>. <\/span>Textbooks are not considered scholarly\/peer-reviewed sources; however, they may still be included as supplemental references.<\/span><\/em>
        <\/p>\n

        Your case study is to be a <\/span>minimum<\/span><\/span> of <\/span>3 complete pages<\/span><\/span> in length. Writing over the minimum page length requirement is acceptable; however, I am looking for something other than a 10+ page case study.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

        President Trump’s predecessors made similar tariff decisions early in their presidencies and came to regret them. For example, in 2009, President Obama slapped a stiff 35% tariff on Chinese tires after American companies complained about unfair competition. They said China was flooding America with tires at low prices, making it challenging for U.S. companies to […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"disciplines":[1112],"paper_types":[],"tagged":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/22944"}],"collection":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions"}],"about":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/types\/questions"}],"author":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/comments?post=22944"}],"version-history":[{"count":0,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/22944\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/media?parent=22944"}],"wp:term":[{"taxonomy":"disciplines","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/disciplines?post=22944"},{"taxonomy":"paper_types","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/paper_types?post=22944"},{"taxonomy":"tagged","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/tagged?post=22944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}