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Decrease in import tariffs on steel increases supply, lowering prices and increasing quantity in the market.

Supply and demand graph showing a decrease in import tariffs on steel, leading to a shift in the supply curve to the right, resulting in a lower equilibrium price and higher equilibrium quantity in the steel market.

Supply and demand graph showing a decrease in import tariffs on steel, leading to a shift in the supply curve to the right, resulting in a lower equilibrium price and higher equilibrium quantity in the steel market.

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