Quiz on Trump's Tariffs

What percentage of tariffs did the Trump administration add on steel and aluminum imports on March 12?

• 10%

• 15%

• 20%

• 25%

Which countries retaliated with their own tariffs on U.S. goods after Trump's tariff announcement?

• Mexico and the European Union

• Canada and the European Union

• Canada and China

• Mexico and China

Where does the money from tariffs go according to the text?

• U.S. Department of State

• U.S. Department of Defense

• U.S. Department of Treasury

• U.S. Department of Commerce

What is a tariff?

• A tax on goods produced domestically

• A subsidy on imported goods

• A tax on goods imported from another country

• A subsidy on exported goods

How much could Trump's tariffs increase revenue per year according to the Committee for a Responsible Federal Budget?

• $200 billion

• $150 billion

• $100 billion

• $50 billion

What impact do tariffs have on consumers according to economists?

• Deflationary

• Inflationary

• No impact

• Deflationary in the short term

What was the expected cost of extending Trump's 2017 tax cut over the next decade?

• $4 trillion

• $3 trillion

• $2 trillion

• $1 trillion

Which sector received $28 billion in relief payments due to retaliatory tariffs from China?

• Technology

• Automotive

• Agriculture

• Textile

According to the Peterson Institute for International Economics, how much would Trump's tariffs cost the typical U.S. household per year?

• $800

• $1,000

• $1,200

• $1,500

Which group would lose the most income percentage-wise due to Trump's tariffs according to the Peterson Institute?

• Bottom 20% earners

• Middle 50% earners

• Top 1% earners

• Top 10% earners