Tariffs and Trade Links
Tariff: a tax on imported goods that raises money for the government and encourages the growth of industry.
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
Trade and Tariff 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
U.S. placed a 25% tax on European light trucks after Europe imposed a chicken tariff.
Trade and Tariff Videos
Tarriffs and Trade Wars Video Links
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
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
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.
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
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.
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
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
Trade and Tariff Links
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.
Trade Videos
Trade Video Links
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
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
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
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
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
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
https://www.youtube.com/watch?v=7uwL7vz0eWU&t=0s Feb 3, 2020 The Commonwealth is a voluntary association of 54 independent and equal sovereign states. The Commonwealth is home to 2.4 billion people and includes both advanced economies and developing countries. Thirty-two of our members are small states, many of which are island nations. Our shared values and principles are inscribed in the Commonwealth Charter. Member countries are supported by a network of more than 80 intergovernmental, civil society, cultural and professional organisations.