Does the US currently have a fixed exchange rate?

Question

Does the US currently have a fixed exchange rate?

and also is this true? "The steel worker benefits from a tariff on imported steel, but the auto worker does not."

thanks!

Answer 1

There's quite a few countries that fix their exchange rate to the U.S. dollar, but the dollar itself is determined by supply and demand.  Steel workers always benefit from protective barriers because it limits their competitions ability to import steel.  It hurts the auto workers because they use alot of imported steel.

Answer 2

Fixed? NO

Answer 3

No, the US Dollar has a floating exchange rate, which means that its value, or price, is determined by supply and demand forces on the world market.  

The steel tariffs statement is vague.  If it means "The steel worker in country X benefits from a tariff on imported steel in country X, but the auto worker in country X does not," then yes it is true.  A tariff will allow inefficient producers in the home country to stay in business.  But by increasing the cost of a major input to cars, the auto worker's industry is harmed because their products become relatively more expensive than cars made with cheaper steel in other countries.