Critically discuss whether the simple model of international trade with an import tariff  can be applied to US trade policy over steel and aluminium. Provide annotated  diagrams and draw out any potential rent-seeking opportunities.

Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter18: Gaining From International Trade
Section: Chapter Questions
Problem 6CQ
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Critically discuss whether the simple model of international trade with an import tariff 
can be applied to US trade policy over steel and aluminium. Provide annotated 
diagrams and draw out any potential rent-seeking opportunities.

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