U.S. Tariffs and Their Effects on Businesses and Consumers
Ask students: What are the main imports into the U.S. from the three countries facing tariffs? How has Wall Street reacted to the news of the impending tariffs?
The White House is implementing two new policies with global consequences ahead of President's Trump's address to Congress. The Trump administration is halting military aid to Ukraine and it's imposing new tariffs on Mexico, Canada and China. Roben Farzad, economic analyst and host of public radio's "Full Disclosure," joins Geoff Bennett for perspective.
View the transcript of the story. News alternative: Check out recent segments from the News Hour, and choose the story you’re most interested in watching. You can make a Google doc copy of discussion questions that work for any of the stories here.
Key Term
tariff — a tax on imported or exported goods
Discussion Questions
- Where are the countries where the United States is imposing tariffs?
- Why are these tariffs being imposed, according to Secretary of Commerce Howard Lutnick?
- What are the main imports into the U.S. from the three countries facing tariffs?
- How has Wall Street reacted to the news of the impending tariffs?
- Where are consumers expected to see the biggest impact of the tariffs?
Focus Questions
Canada, Mexico and China have responded to Trump's tariffs by imposing tariffs of their own on the United States. The consequences of this "trade war" can include higher costs of production for companies due to the increased cost of materials. What do you think the result of these increased costs on producers mean for consumers?
Media literacy: Who is another person that you would like to see interviewed to learn more about the effects of tariffs on the economy?
Extension Activity
Watch the following video about gun trafficking to Mexico and its connection to U.S. gun manufacturers. Then, answer the questions below.
Discussion Questions
- What is Mexico alleging that U.S. gun manufacturers like Smith & Wesson are doing that is resulting in large numbers of weapons being smuggled across the border?
- Do you think Mexico has a case against the gun manufacturers? What other legislation might help prevent illegal gun trade from the U.S. to Mexico?
Republished with permission from PBS NewsHour Classroom.
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