Tariffs History
Were tariffs low or high when they were first introduced?
Low
What country did Trump lower the tariffs on by over 100%?
China
Are tariffs trying to make U.S. citizens buy goods from inside the U.S. or outside?
Inside
True or false: Tariffs create a relatively steady income for the U.S. government?
True
When were tariffs first introduced?
1789
Trump targeted the chief executive of what company?
Apple
Are tariffs ment to intimidate other countries and start foreign competition?
No
Can tariffs pressure other countries into trade deals?
Yes
Tariffs are believed to have a part in the start of what historic event?
The Great Depression
Trump threatened to increase tariffs on all goods to from the European Union by what percent?
50%
Are they used to lower the amount of imports to the U.S.?
Yes
Do tariffs reduce investment opportunities in research and development and/or capital goods?
Both
By what percent did tariffs increase after the Civil War?
50%
On what date did Trump enact tariffs on the U.S.?
April 5th, 2025
Why would the U.S want other countries to rebalance their trade relationship with them?
The U.S. wants this so that more people will want to trade with them so that they can get more valuable resources and therefore more power.
What is an example of a disruption in a global supply chain?
Reduced economic growth or reduced trade
Which tariff act raised tariffs to the highest that they have ever been in American history?
The Smoot-Hawley Tariff Act
BONUS 1000 Points: What authority did Trump use to impose tariffs on the U.S.?
He used his IEEPA authority
What does it mean to influence trade balances?
Why do tariffs lead to higher consumer prices?
Buisnesses pass on the increased cost of goods?