Trump raises taxes on Chinese imports
President Donald Trump increased tariffs on on $200 billion worth of Chinese products from 10 percent to 25 percent as trade talks broke down, and he has threatened to levy 25 percent tariffs on an additional $325 billion worth of goods that are not now taxed. Economists describe tariffs as taxes that will be paid by consumers with higher prices nearly 6,000 different products. One analysis called the tariffs the biggest tax increase in decades.
Class discussion: Can your family afford paying 25 percent more for many of the things they buy? Why is the president raising taxes on Chinese imports? Which other nations have been hit by tariff increases? How many of those nations are U.S. allies? Do tariffs protect some American jobs? Could import taxes cost other U.S. jobs? What role did tariffs have in the Great Depression? Is raising taxes on imports good or bad for most Americans? Why?
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