CE Week 3 Summary Assignment

CE Week 3 Summary Assignment

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Storyboard Description

China Trade Tariffs

Storyboard Text

  • You idiot Americans. Keep in mind you buy far more from us than you sell to us. We can make your lives living nightmares.
  • Oh, so you think you can retaliate? We'll see about that.
  • I'm afraid you're not getting that raise you asked for; our profits are starting to plummet
  • Because, with all the tariffs on materials, we're struggling to keep up and keep our prices low enough for our consumers
  • Why?
  • Ultimately, the biggest question here, like with most business ventures and decisions in a nation of economics, is "do the benefits outweigh the costs?" Will this seemingly endless war of tariffs end with a better economy for America? Or will we just simply worsen our international relations with our allies and closest neighbors?
  • The U.S. imposed three rounds of tariffs on $250bn worth of Chinese goods imported to America, however if China chooses to retaliate again, the tariffs will rise to affect $267bn worth of goods.
  • The U.S. started charging levies on the imports of steel and aluminum from the European Union, Mexico, and Canada. US businesses have to pay a 25% tax when they import steel from those places and a 10% levy to buy aluminum from them. The European Union then imposed tariffs on €2.8bn worth of US goods in June, along with Mexico who announced new tariffs on US products, and Canada imposed retaliatory tariffs on 16.6bn Canadian-dollars worth of US product on 1 July.
  • Ultimately, China may not have as much firepower as the US to retaliate, given the US buys much more from China than it sells to them. This could mean it would find alternative ways to fight back such as making life difficult for American companies in China by increasing red-tape.
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