Tariff Math
$25
A tariff is a tax placed on these types of goods?
A local shoe factory wants a tariff on foreign shoes to do this for their own sales. Why?
Protect or boost them
Trump argued tariffs would protect U.s jobs in these two metal industries.
Steel and Aluminum
According to BBC news, imposing tariffs often leads to this effect on U.S consumer prices
Increase, or rise
A 10% tariff on $50 adds this amount
$5
Tariffs typically do this to the prices consumers pay.
Raise them
If a tariff is very high, country's might do this instead of exporting to that country.
Stop or reduce
One reason Trump gave for tariffs was to secure better what for the U.S?
Manufacturing and American jobs
What is one way trumps tariffs impact Canadian consumers financially?
Higher prices on everyday goods, (groceries, household items). Due to high costs for Canadian business
A 15% tariff on $200 results in an extra cost of this.
$30
What 2 country's does Trump want to place a 25% tariff on imports?
Canada and Mexico
If a foreign car costs $20,000 and there is a 10% tariff, you would pay how much extra?
$2000
Trump cited reducing this gap between imports and exports, also known as the...
Trade deficit
How do everyday items become more expensive for Canadians?
Prices on things like groceries and cars could go up because it costs more to bring them into canada.
$100
When countries retaliate against each other's tariffs, it can escalate into this.
Trade war
A Tariff on imported fruit might make local fruit become?
Less expensive
Trump believes tariffs give the U.S more what in trade negotiations?
Leverage
How could the tariffs affect jobs in canada?
Canadians can lose there jobs businesses struggle to afford materials from the U.S
A 30% tariff on $1000 means you pay this much more.
$300
What country does is Trump putting 10% additional tariffs on imports?
China
When Tariffs reduce competition, domestic producers can raise prices without losing many customers. This effect is called?
Protective effect or reduced competition
Why did president trump impose tariffs on importunes from canada and Mexico early 2025?
To combat drug trafficking particularly fentanyl and to dress illegal immigration
How might trumps tariffs affect employment and the economy in canada?
Companies struggle to compete, leading to job losses and economic instability.