A U.S. import fee on steel would increase the domestic quantity of steel demanded.

Question

Quizplus · Accepted Answer

A U.S. import fee on steel would increase the price of imported steel, making it more expensive for domestic consumers. This would likely lead to a decrease in the quantity of steel demanded, as consumers would either switch to alternative products or reduce their overall consumption of steel. It may lead to a slight increase in demand for domestic steel, but this would be more than offset by the overall decrease in demand for steel.

A US Import Fee on Steel Would Increase the Domestic Quantity