US tariffs impact people and businesses – level 1
13-03-2025 07:00
New tariffs on products from Canada, Mexico, and China may make things more expensive.
There is a new 25% tax on many goods from Canada and Mexico and a 20% tax on Chinese goods. President Trump does this. These taxes impact businesses and shoppers.
Farmers buy chemicals from Canada. Mexico sends fruits like avocados and tomatoes to the US. With higher prices, restaurants and stores may put up prices. Small businesses may have problems paying these costs.
During COVID-19, businesses learn to buy from different places. But these new tariffs make things hard again. If prices go up, people may spend less money. Trump says that tariffs will help America but may also cause problems.
Difficult words: tariff (extra money on products from other countries), shopper (a person who is shopping), cost (money which you need to buy, do, or make something).
You can watch the original video in the Level 3 section.
How might the 25% tax on goods from Canada and Mexico, along with the 20% tax on Chinese goods, lead to challenges for farmers, restaurants, and small businesses?
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