Business

Text 1 and 2

Text 1 focuses on the benefits of international trade arrangements. However, by mentioning these benefits, the video suggests that Donald Trump's “America First” policy might reduce them. If international trade agreements helped American businesses expand trade and improve productivity, then Trump’s rejection of these agreements under the “America First” policy might have the opposite effect: limiting trade and reducing productivity. As such, businesses might lose profits and see a decline in their turnover, for instance.

Text 2 looks at how consumers will be affected by tariffs on imports set by the Trump Administration. The video also suggests that American businesses will face higher production costs if they make items from imported material such as steel or aluminium. If American businesses take on these costs themselves, then they will reduce their profits. As such, it is likely that American businesses will increase the price of goods to recover their costs, passing the costs onto consumers. This might lead to companies losing customers if fewer people are willing to buy the goods.

The video also mentions that American businesses in the meat industry struggle with oversupply. They cannot export as much pork and beef as they used to to important buyers such as China, Mexico, and Canada, because these countries have also set up tariffs on US products. In other words, American businesses in the meat industry will lose money because they cannot sell all the goods they produce. One option would be to decrease production or prices, but this would also lead to a reduction in their business and profits.

Text 3

Text 3 suggests that the tariffs set by Donald Trump make US businesses less competitive on the international market because many of them make goods from imported resources. The tariffs drive up companies’ production...