The Global Implications of Trump's Trade War

The video discusses the US campaign to reduce its $560 billion trade deficit with China through tariffs on $250 billion worth of goods. While some US industries benefited, China retaliated with tariffs on $110 billion of US imports, affecting sectors like agriculture and manufacturing. Despite the US economy's resilience, global growth forecasts have been downgraded, with further tariffs threatening more economic challenges worldwide.

What was the primary goal of the US campaign against China?

• To support Chinese industries

• To increase the trade deficit

• To reduce the trade deficit

• To eliminate all tariffs

Which sector benefited from the US tariffs on steel?

• Technology

• Agriculture

• Steel production

• Automobile

How did China respond to the US tariffs?

• By reducing tariffs on US goods

• By imposing duties on US imports

• By ignoring the US tariffs

• By increasing trade with the US

What was one of the economic impacts on US farmers due to China's tariffs?

• Government bailouts

• Increased profits

• More exports to China

• Higher market prices

What did the IMF do in response to the trade tensions?

• Supported China's economy

• Eliminated all tariffs

• Cut the world growth outlook

• Increased the world growth outlook