How Tariffs Impact the Economy
Ask students: Where (which country) did Trump impose a 10% tariff? When did tariffs raise 90% of funding for the federal government?
President Trump's tariff plans are leaving people with many questions about when they have been used in the past, what kind of effect they have had, how that squares with the president's arguments and their potential impact now. Economics correspondent Paul Solman reports.
View the transcript of the story.
Discussion Questions
- Where (which country) did Trump impose a 10% tariff?
- When did tariffs raise 90% of funding for the federal government?
- What did the McKinley tariffs do?
- Why did McKinley change his mind about tariffs after becoming president?
- How do other countries often react to tariffs placed on the goods they are selling to the U.S.?
Focus Questions
Do you think tariffs are a good idea? What do you think would be the biggest impact on your life from escalating tariffs or trade wars?
Media literacy: How could you find out how tariffs are most likely to impact your own life and community?
Extension Activity
What can you predict about future tariffs from how tariffs have impacted to the U.S. economy in the past? Skim through this Wikipedia page to see some of the history of U.S. tinkering with tariffs, including the infamous Smoot-Hawley Tariff Act from the start of the Great Depression.
You can also watch the following segment for more on the reasoning and potential impact of Trump administration tariffs. Note that it was recorded before Trump agreed to delay tariffs on Canada and Mexico. After watching, discuss — do you think trade deficits or imbalances are damaging to U.S. interests?
Republished with permission from PBS NewsHour Classroom.
PBS News Hour Classroom helps teachers and students identify the who, what, where and why-it-matters of the major national and international news stories. The site combines the best of News Hour's reliable, trustworthy news program with lesson plans developed specifically for... See More
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