Final answer:
When a country introduces a tariff on steel, the price of steel in that country will generally increase.
Step-by-step explanation:
When a country introduces a tariff in the market for steel, the price of steel in that country will generally increase.
A tariff is a tax on imports, and when it is implemented, it raises the cost of imported steel. As a result, domestic steel becomes relatively cheaper compared to imported steel, leading to an increase in demand for domestic steel. This increased demand for domestic steel can cause the price of steel to rise.
For example, if the U.S. introduces a tariff on imported steel, the price of steel in the U.S. may increase as domestic steel becomes a more attractive option for consumers and businesses.