Understanding the Impact of New Tariffs

What is the percentage of the new tariff announced by President Trump on goods from Mexico and the EU?

• 30%

• 20%

• 40%

• 10%

Which grocery item is expected to see a 10% price increase due to an expired trade agreement?

• Oranges

• Bananas

• Tomatoes

• Avocados

What is the estimated value of medical equipment imported from the EU to the US?

• $20 billion

• $25 billion

• $16 billion

• $10 billion

Which country is a major supplier of electronics to the US, as mentioned in the video?

• Mexico

• China

• Canada

• India

What is the potential consequence for American alcohol producers if the EU retaliates with tariffs?

• Increased domestic sales

• Higher production costs

• More export opportunities

• Reduced demand overseas

Which sector is NOT included in the new tariff batch announced by President Trump?

• Vehicles

• Electronics

• Alcohol

• Groceries

What is one of the reasons given for the new tariffs, according to the administration?

• To increase government revenue

• To promote international trade

• To level the playing field for American businesses

• To reduce consumer prices

What historical event is mentioned as a cautionary tale regarding high tariffs?

• The Great Recession

• The Great Depression

• World War II

• The Dot-com Bubble

What is a suggested strategy for consumers to mitigate the impact of rising prices due to tariffs?

• Increase spending

• Ignore price changes

• Switch to local produce

• Buy more imported goods

What is the potential impact on the average US tariff level due to the new changes?

• It will remain the same

• It will increase to 25%

• It will decrease to 10%

• It will climb to nearly 19%