Trade Wars

What is a trade war?

• A conflict involving physical weapons

• A disagreement over cultural differences

• A conflict involving tariffs on imports and exports

• A competition in sports

Why might a country start a trade war?

• To start actual warfare

• To protect domestic industries

• To improve international relations

• To win a gold medal

What can be considered as 'weapons' in a trade war?

• Actual firearms and bombs

• Tariffs on goods like food and electronics

• Athletes in international competitions

• Diplomatic meetings and treaties

How can a trade war affect consumers?

• It only affects the government

• It has no effect on consumers

• It can increase the prices of imported goods

• It can lower the prices of imported goods

What was a consequence of the Smoot-Hawley Tariff Act?

• It launched a trade war and countries took their trading elsewhere

• It decreased the prices of goods worldwide

• It ended all trade wars

• It made the US the most popular trading partner in the world