https://padlet.com/hunth1/h1gdynjl7yzz Econ Project en-us 2018-10-12 06:34:33 UTC 2023-01-30 15:11:57 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Diskette.png hunth1 https://padlet.com/hunth1/h1gdynjl7yzz/wish/292565484 https://www.usatoday.com/story/money/2018/01/24/your-lg-washer-may-soon-cost-more/1063022001/]]> 2018-10-14 17:42:49 UTC https://padlet.com/hunth1/h1gdynjl7yzz/wish/292565484 hunth1 https://padlet.com/hunth1/h1gdynjl7yzz/wish/293192785  Trump decided to put higher taxes on washing machines bought from overseas. He is imposing these new tariffs to "protect American jobs" and workers.  Large imported washing machines and parts will be subject to tariffs of up to 50%. While largely aimed at South Korea and China, the new tariffs will apply with a few exceptions, worldwide. ]]> 2018-10-16 07:42:35 UTC https://padlet.com/hunth1/h1gdynjl7yzz/wish/293192785 hunth1 https://padlet.com/hunth1/h1gdynjl7yzz/wish/293200633 Tax: a compulsory payment collected by the government,  distributed by the government for workers' income, business profits, or added to the cost of some goods, services, and transactions.

Tariffs: a system of charges imposed by countries on foreign trade transactions (especially importations).

Imports: a good brought across a national border, from an external source

U.S. Trade Representative: the US government agency responsible for developing and recommending trade policy to the President


]]> 2018-10-16 08:11:03 UTC https://padlet.com/hunth1/h1gdynjl7yzz/wish/293200633 hunth1 https://padlet.com/hunth1/h1gdynjl7yzz/wish/293316471 2018-10-16 13:27:13 UTC https://padlet.com/hunth1/h1gdynjl7yzz/wish/293316471 hunth1 https://padlet.com/hunth1/h1gdynjl7yzz/wish/293324290 Because there are heavier tariffs, The South Korean electronic company will supply less and charge more for its products. 
Therefore supply will decrease thus causing an increase in price and a decrease in quantity.]]> 2018-10-16 13:37:53 UTC https://padlet.com/hunth1/h1gdynjl7yzz/wish/293324290