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Feb. 4, 2025, 2:16 p.m.

How tariffs impact the economy

NOTE: If you are short on time, watch the video and complete this See, Think, Wonder activity: What did you notice? What did the story make you think? What would you want to learn more about?

SUMMARY

President Donald Trump's tariff plans are leaving people with many questions about when they have been used in the past, what kind of effect they have had, how that squares with the president's arguments and their potential impact now.

View the transcript of the story.

News alternative: Check out recent segments from the NewsHour, and choose the story you’re most interested in watching. You can make a Google doc copy of discussion questions that work for any of the stories here.

WARM-UP QUESTIONS

  1. Where (which country) did Trump impose a 10% tariff?
  2. When did tariffs raise 90% of funding for the federal government?
  3. What did the McKinley tariffs do?
  4. Why did McKinley change his mind about tariffs after becoming president?
  5. How do other countries often react to tariffs placed on the goods they are selling to the U.S.?

FOCUS QUESTIONS

Do you think tariffs are a good idea? What do you think would be the biggest impact on your life from escalating tariffs or trade wars?

Media literacy: How could you find out how tariffs are most likely to impact your own life and community?

WHAT STUDENTS CAN DO

What can you predict about future tariffs from how tariffs have impacted to the U.S. economy in the past? Skim through this Wikipedia page to see some of the history of U.S. tinkering with tariffs, including the infamous Smoot-Hawley Tariff Act from the start of the Great Depression.

You can also watch the following segment for more on the reasoning and potential impact of Trump administration tariffs. Note that it was recorded before Trump agreed to delay tariffs on Canada and Mexico. After watching, discuss — do you think trade deficits or imbalances are damaging to U.S. interests?

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