President Trump Promised New, Better Trade Deals. Has He Delivered?

President Trump aimed to reshape U.S. trade policy, focusing on renegotiating NAFTA into USMCA and establishing a phase one trade deal with China. The USMCA awaits Canada's ratification and is expected to have a modest impact on GDP. The China deal's success depends on future commitments. Despite these efforts, the U.S. trade deficit remains similar to pre-Trump levels, with tariffs increasing federal revenue but primarily affecting U.S. importers.

What was a key requirement for the renegotiated NAFTA deal to take effect?

• Approval by the European Union

• Ratification by Canada

• Approval by the World Trade Organization

• Endorsement by the United Nations

What is a significant aspect of the phase one trade deal with China?

• Reduction in U.S. exports

• Increase in U.S. imports

• Purchasing commitments by China

• Immediate tariff removal

During President Trump's term, how has the overall balance of trade changed?

• The U.S. has stopped trading with China

• The U.S. is exporting more than it imports

• The trade deficit has significantly decreased

• The trade balance has remained largely unchanged

What has been the effect of Trump's tariffs on federal revenue?

• Federal revenue from import taxes has decreased

• Federal revenue from import taxes has nearly doubled

• Federal revenue from import taxes has tripled

• Federal revenue from import taxes has remained the same

Who primarily pays the new tariffs imposed by the U.S.?

• Chinese exporters

• European manufacturers

• U.S. consumers

• U.S. companies importing goods