Tariffs and Trade

Tariff: a tax on imported goods that raises money for the government and encourages the growth of industry.

2023 Cars.com American-Made Index: Which Cars Are the Most American? Patrick Masterson

https://www.cars.com/articles/2023-cars-com-american-made-index-which-cars-are-the-most-american-467465 Jun 21, 2023 "For the fourth time in its 18-year history, Cars.com’s American-Made Index ranks all qualifying vehicles built and bought in the U.S. for 2023 — and what tops the list is clearer than ever to see. For the third year on the trot, Tesla holds firm atop the list; for the second year in a row, its Model Y SUV leads the way; and for the first time, the Texas-based automaker has swept the index, with its entire lineup locking out the top four...Behind Tesla’s quartet lies the Honda Passport SUV, dropping one spot from 2022; a fresh face to the list in the form of the Volkswagen ID.4 all-electric SUV at No. 6; and four vehicles from parent automaker Honda to close out the top 10: the Odyssey minivan and Ridgeline pickup truck at Nos. 7 and 9, respectively, and the MDX and RDX SUVs from Honda’s luxury arm Acura at Nos. 8 and 10, respectively." Cars.com

How do Tariffs Work? Digest Notes

• 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

How Companies Design Products To Avoid Tariffs - Cheddar Explains 9:13

• https://www.youtube.com/watch?v=tXCyKWbT5hQ Sep 21, 2021 Is a Snuggie a blanket or a sweatshirt? Now this may seem like a silly question, but you really should think twice about your answer. See, that question has not only been answered, but even debated in front of The Court of International Trade. Why? Well, how a product is classified can mean either big savings or big costs for the company that sells it. In this episode we explain how companies engineer their products to avoid tariffs. Cheddar

The Nullification Crisis 3:47

• https://www.youtube.com/watch?v=jfQf208o3eI May 1, 2020 In 1828, Congress passes a tariff to protect American manufacturers from cheaper foreign imports. This protective tariff almost brings the country to the brink of civil war. NBC News Learn

How do tariffs work? | CNBC Explains 4:57

• https://www.youtube.com/watch?v=LKCMnCZyxiQ Aug 17, 2018 CNBC International The U.S. imports more than $500 billion worth of goods from China, of which some goods are subject to a customs duty. CNBC's Uptin Saiidi explains how increased tariffs can impact an economy.

How Tariff Tensions Transformed China’s Toy Factories | WSJ 5:57

• https://www.youtube.com/watch?v=thUJCuZC2BM Dec 17, 2019 Americans might be getting lower-quality toys for the same price this Christmas, despite a limited U.S.-China trade deal. WSJ toured the Chinese city that churns out Frozen and Peppa Pig gadgets to understand the impact of tariff threats. Wall Street Journal

The Chicken and The Trade War 2:02

• https://www.youtube.com/watch?v=JJ3WIKXvdXA Apr 26, 2018 Foundation for Economic Education The Great Chicken War of the 1960s had far-reaching and unexpected consequences. It's the reason why Americans pay more for light-weight trucks. For more information on how the Chicken Tax impacts us to this day, check out FEE's article, "The Chicken Tax Makes Trucks Expensive and Unavailable." https://fee.org/articles/chicken-tax-makes-trucks-expensive-and-unavailable.

America v China: why the trade war won't end soon | The Economist 9:17

• https://www.youtube.com/watch?v=ErwIlvQ_RVk Nov 14, 2019 America and China are edging closer to signing a deal in the trade war. But that won’t mark the end—the issues at the heart of the conflict will be very difficult to resolve. Read more here: https://econ.st/2qQItl6​

The Economics of the North & South Before the Civil War 5:09

• https://www.youtube.com/watch?v=x59okyeAJ1c Sep 2, 2020 What economic issues split the North and South during the leadup to the Civil War? This Homework Help video explores this question and will help prepare you for your upcoming test!  Bill of Rights Institute

• Slavery and the Coming of the Civil War: https://billofrightsinstitute.org/playlists/slavery-and-the-coming-of-the-civil-war

• The Civil War and the Industrial Revolution: https://billofrightsinstitute.org/lessons/the-civil-war-and-the-industrial-revolution

• The Commercial Republic Before the Civil War: https://billofrightsinstitute.org/essays/the-commercial-republic-before-the-civil-war-1815-1860

Why are US consumers paying such high prices for sugar? | BBC News 4:08

• https://www.youtube.com/watch?v=-v_ufWDT1JI Jan 22, 2024 While inflation is showing signs of easing in many countries at the moment, in the US, one essential commodity keeps getting more expensive: sugar. The US is the world's fifth largest sugar producer, which sugarcane grown in the south and sugar beets in the north. Even though the cost of sugar is rising worldwide, Americans pay twice as much as the global average for sugar because of a government policy. Brought about to protect domestic producers, a protectionist policy taxing imports of sugar is actually creating higher prices, a report by the government accountability office found in October. BBC News

How L.A.'s Container Ship Logjam Highlights Larger Pandemic Supply-Chain Issues | WSJ 5:45

• https://www.youtube.com/watch?v=NgIZbRg1vOc Apr 12, 2021 An average of 30 container ships a day have been stuck outside the Ports of Los Angeles and Long Beach just waiting to deliver their goods. The backlog is part of a global supply-chain mess spurred by the pandemic that means consumers could see delivery delays for weeks. Photo Composite: Adam Falk/The Wall Street Journal Wall Street Journal

America's First Multimillionaire 2:49

• https://www.youtube.com/watch?v=YFOdpYi_JsY Oct 2, 2014 Smithsonian Channel In 1828, John Jacob Astor built a trading post on the Missouri River. Business was so profitable that it only took four decades for Astor to become America's first multimillionaire. From: AERIAL AMERICA: The Dakotas 

Suez Canal blocked after huge container ship wedged across it - BBC News 2:14

• https://www.youtube.com/watch?v=C06Q4Mft0yQ Mar 24, 2021 A giant container ship the length of four football pitches has become wedged across Egypt's Suez Canal, blocking one of the world's busiest trade routes.  Dozens of vessels are stuck, waiting for rescue boats to free the 400m-long (1,312ft) ship, which was knocked off course by strong winds.  Egypt has reopened the canal's older channel to divert some traffic until the grounded ship can move again. BBC News

Stuck at sea: Mega cargo ship wedged in Suez Canal causes traffic jam 2:30

• https://www.youtube.com/watch?v=FH-_Mtkugbs Mar 24, 2021 Tug boats and a digger struggle to free a mega cargo ship, blocking one of the world's busiest shipping pathways. Sky News

How Container Ships Are Causing A Frenzy At American Ports - Cheddar Explainers 8:02

• https://www.youtube.com/watch?v=MpBnJWqS8Hs Mar 26, 2021 There's an expensive and time-consuming fad sweeping America's ports: dredging. This is the process by which ports dig up the bottoms of their channels, either to maintain depth or go even deeper. In the last 5-10 years, dredging has taken ports by storm. To take just two examples: the Port of Boston recently completed a $350 million project to dredge the channel from 40 to 51 feet, and the Port of Miami requested a second dredge in 2018, just three years after completing a $205 million project to deepen their channel from 42 to 50 feet. They're far from the only ones, so why are ports in a such a race to dig deeper? Cheddar

Cut off from the rest of America, a small town endures lockdown 6:15

• https://www.youtube.com/watch?v=hVdLsgUDtso Mar 7, 2021 Point Roberts, Wash., on a peninsula jutting out from Canada beneath the 49th parallel, is a tiny piece of America separate from the U.S. mainland. Its isolation helped protect the community from the spread of COVID-19, but restrictions at the border have effectively trapped residents there – and kept visitors out. Correspondent Lee Cowan journeys to the isolated town suffering from the economic ripple effects of the pandemic. CBS Sunday Morning