Conclusion
It is clear that the effects of the steel tariffs enacted on March 20th by President Bush are consistent with those predicted using economic theory, and these effects have had a dramatic impact on the welfare of many different groups both in the United States and in Taiwan, as evidenced by the changes in the steel trade between the two nations and by various economic indicators, including employment, income and prices. While other pre-existing economic conditions may have contributed to these changes, it can be definitively concluded that the recent steel tariffs were at least partially responsible for the observed changes in the U.S. and Taiwanese economies.
Bibliography
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This was an entry for The 2004 Moffatt Prize in Economic Writing. See the contest rules for more information.
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