The effects of trade wars and deals on economies

USDA. “USDA Poultry Production Data May 2015 .” National Agriculture Statistics Service,
United States Department of Agriculture , 5AD, www.usda.gov/sites/default/files/documents/nass-poultry-stats-factsheet.pdf.

Emoji key:
📖 Book source
🎓 Scholarly journal
🗞️ Newspaper or article
💻 online source

🗞️ Bui, Quoctrung, and Neil Irwin. “How Much Will the Trade War Cost a Typical American Family? Around $60 (So Far).” The New York Times, The New York Times, 12 July 2018, www.nytimes.com/interactive/2018/07/12/upshot/trade-war-cost-families.html. ⭐⭐⭐⭐

WITHOUT 200 BILLION "China, the short answer is $60 a year per household. That’s about one-tenth of 1 percent of a typical household’s income."

WITHOUT 200 BILLION "This does not include the potential impact of taxes on $200 billion worth of Chinese imports that the Trump administration enumerated this week; the earliest those could go into effect would be September. Including those tariffs would bring the total annual costs for the average American family to $127."

WITH 200 BILLION- Graphs here are a good source of info on how the tariffs affect people of different incomes.
*Not such a big burden on lower-income families but still impacts them

“You’re cutting taxes with the tax reform and then you’re slapping them back on with the tariffs,” Mrs. Russ said. “In that context they don’t look trivial, especially for low- to middle-income households.”

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🗞️ stephen-johnson. “Map Shows How the U.S.-China Trade War Is Hurting American Farmers.” Big Think, Big Think, 19 Sept. 2018, bigthink.com/us-china-trade-war-soybean-farmers. ⭐⭐

Charts on this page. Maybe find map of small towns around United States.

"American growers of soybean, which is the most-imported U.S. commodity in China, are expected to be hit hardest by the trade war. In 2017, China imported from the U.S. about 33 million tons of soybeans, which are used to feed livestock and make cooking oil. If China can find another source for its soybeans, such as Brazil, the U.S. could see economic losses of about $1.7 billion and $3.3 billion a year, according to Purdue University."

"On the US side, farmers will suffer the most from the imposition of Chinese tariffs on US soybeans," Loren Puette, director of Taiwan-based research firm ChinaAg, told DW. "To have the Chinese market shut down for these farmers would be a major financial blow," Puette says.

🗞️ “Trade Wars, Trump Tariffs and Protectionism Explained.” BBC News, BBC, 26 July 2018, www.bbc.com/news/world-43512098. ⭐⭐

"Protectionism is trying to use restrictions such as tariffs to boost your country's industry, and shield it from foreign competition."

"The Trump administration claims the US relies too much on other countries for its metals, and that it couldn't make enough weapons or vehicles using its own industry if a war broke out."

🗞️ “7 Contentious Trade Wars in U.S. History.” History.com, A&E Television Networks, www.history.com/news/7-trade-wars-boston-tea-party-smoot-hawley. ⭐⭐⭐⭐⭐

The Boston Tea Party
Major players: American colonists, British Parliament

The Smoot-Hawley Act of 1930
Major players: United States, Canada, Europe and other nations

The Chicken Tariff War of the 1960s
Major players: United States, France and West Germany

The 1987 Trade War with Japan
Major players: United States and Japan

Canada-U.S. Lumber Wars
Major players: United States and Canada

The 1993 Banana Wars
Major players: United States, Europe, Latin America

The 2002 Steel Tariff
Major players: United States, Europe

🗞️ Sawe, Benjamin Elisha. “Countries the United States Has Sanctions and Embargoes Against.” World Atlas - Maps, Geography, Travel, WorldAtlas, 31 May 2017, www.worldatlas.com/articles/countries-the-united-states-has-sanctions-and-embargoes-against.html. ⭐⭐⭐⭐

💻 Momoh, Osi. “Trade Deficit.” Investopedia, Investopedia, 31 Jan. 2018, www.investopedia.com/terms/t/trade_deficit.asp. ⭐⭐⭐⭐

"The US and North Korea have non-existent diplomatic relations that were worsened by the Cold War and the Korean War. "

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"A trade deficit typically occurs when a country does not produce enough goods for its residents. Alternatively, a deficit means that a country’s consumers are wealthy enough to purchase more goods than the country produces."

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