Economic Policy Institute's Scott Says Tariffs on China Are Needed

The transcript discusses the unexpected approval of the NXP and Qualcomm merger, potentially as a strategic move by China. It then shifts to the US imposing tariffs on China, addressing the minimal impact on the US economy and the potential for Chinese retaliation. The discussion highlights the US's leverage in trade disputes due to its import-export dynamics with China.

What is one possible reason for China allowing the merger between NXP and Qualcomm?

• To reduce competition in the US

• To decrease its own technological advancements

• To increase tariffs on US products

• To capture more market share globally

What is the primary reason given for the US imposing tariffs on China?

• To increase US exports to China

• To balance the trade deficit with Europe

• To counter China's unfair trade practices

• To reduce the US GDP

According to the transcript, what is the expected impact of the tariffs on the US economy?

• A noticeable decrease in employment

• A significant increase in GDP

• A major boost in technological innovation

• An infinitesimal effect

What could be a consequence if China retaliates with tariffs targeting Trump states?

• Increase in US exports

• Decrease in Chinese imports

• Rupturing of the Trump base

• Strengthening of the Trump base

Why does the United States have leverage in trade disputes with China?

• Because it exports more to China than it imports

• Because China has a trade deficit with the US

• Because China is less dependent on US exports

• Because US imports from China are four times its exports