Tariffs and Trade

  • Tariff: a tax on imported goods that raises money for the government and encourages the growth of industry.
  • Average new car price was $37,000 in 2018

  1. General Motors
  2. Ford
  3. Fiat Chrystler

  • U.S. placed a 25% tax on European light trucks after Europe imposed a chicken tariff.

  • Money collected is called a duty
  • Imports and Exports
  • U.S. Customs and Border Protection collect duties
  • $33.1 billion was collected by the U.S. in 2018
  • U.S. imposes a 11% tariff on shoes
  • Tariffs... 1) Raise Money and 2) Protect countries from competition
  • An increase in tariffs is paid by you and I
  • China placed a 25% tariff on U.S. planes

Time To Take Away The President's Power To Impose Tariffs Stuart Anderson in this March 5, 2018 article explains how Congress has given too much power to all presidents.

The World's Top 10 Largest Economies shares information about this 2019 data.