its my firms in the global economy exam. I want It ready by today 10 of MAY 23:00 pm. U have to answer two questions out of three from the attachment I have sent you. U will answer the question 2. 2. Critically discuss (a) Why the iPhone widens the US trade deficit with China. (b) What makes it particularly costly for Apple to assemble iPhones in the US (besides the higher cost of labour). and the question 3 “The introduction of an import tariff has generally a negative effect on welfare.” (a) Critically discuss the statement above, highlighting under which conditions the welfare effect of a tariff can instead be positive. (b) Based on the findings in Amiti et al. (2018), argue whether these conditions for a positive welfare effect have been met in the case of the 2018 tariffs imposed by the US. Amiti M., Redding S.J, Weinstein D.E. (2019) The impact of the 2018 Tariffs on Prices and Welfare, Journal of Economic Perspectives, 33, 4, 187-210, https://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.33.4.187.
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