How trumps tariffs are affecting the us economy Specifically the gas and oil ind
ID: 1139738 • Letter: H
Question
How trumps tariffs are affecting the us economy Specifically the gas and oil industry/ oil market. Please write a research paper on: The connection between the government and a "market" or "sector" or "industry" of your choice. >Please make sure you read a few academic articles written on your subject, first, weaving in the views or analyses therein into your paper. These should show that you have learned the basics about your industry and establish the facts of your topic. (Research quality: 25%) Once you describe the topic and the role of the government as it relates to this topic, apply any of the basic economic concepts and models you know (from previous courses or our classes) to this relationship. In this part, you should try and use the basic economic terminology/language as much as possible. Use graphs, if you feel they will complement and clarify your verba arguments. Research methodology and use of research tools from class discussions: 45% Draw clear conclusions from the analysis that may reveal some realities that may not have beern self-evident when you first started to write about your topic. (Research contribution: 30%) Other Vitals Do not use a font size any larger than 11, margins any wider than 1" Make sure pages are numbered and your name appears on all of them (use headers if you like.) Your paper should have the bibliography attached which should not be counted in the page count. The paper should not be shorter than 800 in word count. Longer papers won't be penalized so show me as much as you have learned and thought about the topic. >Explanation / Answer
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Answer-
USA being of the foremost economy in the world, leading the way for most of the developing economies and also framing guidelines for most of the actions in the world is a crucial place for policy making and supervision.
The topic of globalization has been in talks recently as the USA will always look to import and export from most of the countries and also develop its economy based on the above actions.
However with the recent policies of the President of USA it has become even more implying on the nation to have friendly relations with other nations.
The recent policy on the Visa restriction to involve foreign labor into USA has a lot of wrong implication for the production of the nation, though it is correct that the domestic labor will be helped but the productivity and the low cost labor that can be imported will increase cost of production.
Second it the policy of sanctions on the products from China, will further result into fall in imports and exports of USA goods as china is one of the biggest trade partner for the nation.
Second are the strict norms for data management in the country and the results of data leakage and data manipulation in the country has stopped foreign players to come and be a part of the USA development story.
The policies have resulted into stunted friendly relations and growth of the nation. However few changes here and there will help the economy to be on track.
The 2+2 talks of the USA with Indian defense and foreign minister was focused on the fact of importing oil from the USA instead of OPEC nations.
Second part of sanctions on the Chinese goods being imported to USA has led to a ban of around $2 billion of loss of business for china. There was hike of 25% and 10% on steel and aluminum import from China. Export to Chinese company ZTE blocked. Goods numbering 1300 hiked with import tariff resulting into value loss of over $50 billion.
All the above are just few incidents that have resulted into trade wars of China and USA. Apart from this there have been several sanctions that have been imposed by USA on other nations.
The oil market has been reeling the Crude has already crossed $78 per barrel and might go on increasing as per the latest report. The harsh actions and policies of Trump for the OPEC nations have lead to this factor and the reduction in the production of the same has resulted into higher gas and petrol prices for the world.
The oil producing countries both upstream and downstream have been hit by harsh policies and higher taxes on the production of the pacific coast. This had lead to apin for these companies.
We can conclude that the administration has been hard not just on the manufacturing companies but also on the oil and gas companies that have lost a high amount of profits and have yet to loose a lot.
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