US tariffs impact people and businesses – level 3
13-03-2025 07:00
New tariffs on imports from Canada, Mexico, and China are affecting businesses and consumers.
President Trump introduced a 25% tax on most goods from Canada and Mexico, while tariffs on Chinese goods doubled to 20%. These changes may increase prices for everyday items.
Experts say businesses are already adjusting their supply chains. Farmers, for example, rely on Canada for fertilizer and Mexico for produce like avocados and tomatoes. With higher import costs, restaurant owners and retailers may pass these costs on to customers. Some companies, especially smaller businesses, may struggle to adapt.
During the pandemic, many businesses learned to diversify suppliers. However, these new tariffs present fresh challenges. As prices rise, consumers may spend less, affecting businesses and workers. Trump argues tariffs will strengthen the US economy but admits they may cause short-term disruptions.
Difficult words: supply chain (steps in making and delivering products), fertilizer (a substance added to soil or land to improve growth of plants), diversify (use different sources).
You can watch the video news lower on this page.
How might a 25% tax on Canadian and Mexican goods alongside doubled tariffs on Chinese products influence supply chain adjustments, pricing strategies, and the challenges encountered by smaller firms?
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