Consider the following excerpt from the US-China Trade War.

March 8, 2018. Trump set a 25% tariff on steel imports (from China) ... for all countries except Canada and Mexico.

-US-China Trade War: Deal or No Deal. Darden Business Publishing UV8014, page 17

- Prices of steel imported into the US will go up but by less than the amount of the tariff. Please highlight one

TrueFalseUncertain

• Please explain.

- Prices of cars imported into the US will go up

TrueFalseUncertain

• Please explain

- Imports of steel from Mexico will go up

TrueFalseUncertain

• Please explain.

- Employment in the US in aggregate will go up

TrueFalseUncertain

• Please explain.

- The exchange rate on March 3^rd 2021 between the Chinese yuan and the US dollar was CNY 6.47 per USD. One year earlier, the exchange rate was CNY 7.13 per USD. This change in the exchange rate partially offsets the effect of the US tariff on imported steel prices.

TrueFalseUncertain

Please explain

President Trump was quoted in the Washington Post of May 13^th 2019 as saying

"Tariffs are NOW being paid to the US by China of 25% on 250 Billion Dollars worth of goods & products."

- Is President Trump's statement correct

YesNoUncertain

• Please explain.