pay the higher P1 price instead of the previous Po. The foreign supplier of the good now receives a lower price for the good, P2 rather than Po. So the consumer pays more and the foreign exporter makes less. The remainder, or the difference in price Pm1 –Pm2 represents the tariff (the shaded red area in the graph.
             The amount of the new tariffs being imposed will be determined by revenue awarded to American businesses and adjusted to cancel. For this reason the effect of the tariff on the U.S. marketplace would be relatively equal to the effect represented in the marketplace of the European Union countries.
             Dollar Drops to New Low Against Euro
             This article discusses the recent decline of the value of the U.S. dollar and the corresponding strengthening of foreign currencies relative to the dollar. The dollar has been reported to have dropped to a new low against the euro , whose value has climbed to $1.3047, breaking the former record that was set just one week prior. IN addition last Wednesday the currency climbed to its highest point since its birth in 1999 rising to $1.3007.
             A main theme of the article seems to be the U.S.'s steadfast position to let the market determine the value of the dollar, a policy the U.S. treasury department seems intent on holding up. When asked about the decline of the dollar , U.S. Treasury Secretary John Snow replied, "The question is why do I support a strong dollar policy? The answer is because it is our policy." State
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