Sunset Industries

Sunset industries in Global Commerce Policy

In this regard, sunset industries is: industries considered moribund because of technological advances in other sectors of the economy or changes in consumer preferences. Such industries are sometimes exemplified by unprofitable old- style steel mills whose closure would lead to widespread local unemployment. Some new steel mills could of course be classified as sunrise industries. The entries on trade policy are here. Attaining the status of a sunset industry may be a matter of months, as happened among the slide-rule producers when the electronic pocket calculator made its appearance. The entries on trade policy are here. In other cases, it may be a drawn-out process as industries produce insufficient returns to be able to modernize and unable to attract new investment, but earning enough to carry on through cost-saving measures and gradual staff reductions. This is often the time when governments are asked to alleviate an industry’s discomfiture through protection in the form of local content requirements, import restrictions, measures designed to promote structural adjustment, subsidies, voluntary restraint arrangements, etc.[1]

Sunset industriesin the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “Sunset industries” entry (OAS)

See Also