U.S. to Lift Tariffs on Ukrainian Steel

The Biden administration has negotiated with the EU, Britain, and Japan to ease the Trump administration’s steel tariffs, while maintaining some protections for U.S. steel makers. Now President Biden plans to lift tariffs on Ukrainian steel.—nytimes.com

Answer the following questions to check your understanding of the story.

How does a tariff on foreign steel imports affect U.S. steel makers?

With a tariff, U.S. steel makers ______________ compared to a situation of free trade.

a) receive a higher price and produce less steel

b) receive a lower price and produce less steel

c) receive a lower price and produce more steel

d) receive a higher price and produce more steel

Who gains from lower tariffs on U.S. steel imports?

a) U.S. steel consumers and steelmakers gain.

b) U.S. steel makers gain.

c) Only foreign steel exporters gain.

d) U.S. steel consumers gain.

U.S. to Lift Tariffs on Ukrainian Steel

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