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On Wednesday, US President Trump started new tariffs. Tariffs are a tax on products from other countries.
There is a big tariff on products from China.
Many countries are not happy about the tariffs. They think their businesses and economy will be damaged.
In the US, the S&P 500 went down $6 trillion. Stock markets went down in many countries. People think the stock markets will go down more.
The US will talk with South Korea, Japan, Italy and Vietnam soon.
China does not like the tariffs. Big companies in China will work together to keep their money.
Money experts say that the price of products in the US will go up.
President Trump says the tariffs are to stop countries that are not fair to the US. This includes some of the US’s friends, like countries in Europe.
Vocabulary
- President – A person who is in charge of a country or a company; the top person/leader of a company or country
- Tariff – A fee or tax added to products and goods entering a country so they cost more money
- Tax – money that a government requires people or businesses to pay
- Product – something that is made to be sold or used by people; things you buy in a shop
- Economy – the system according to which the money, industry, businesses and trade of a country/region are organized; the flow of money between people, businesses and government; All the money and jobs in a country
- Damaged – broken or not working correctly; bad condition
- Go down – 📉; ⬇
- Trillion – 1,000,000,000,000 = one-trillion
- Stock market – a market where stocks (pieces of ownership in a company) are bought and sold (New York Stock Exchange ‘Wall Street’)
- Keep – To continue doing something; to continue to hold
- Expert – a person with a lot of knowledge and experience in a trade, job or profession
- Price – How much money something costs
- Go up – 📈; ⬆
- Fair – to follow or go by the rules or standards; honorable; proper; agreeing with what is thought to be right or acceptable;
- Include – to contain; incorporate; to be part of; to have something smaller as a part of it; come with
Discussion Questions
- Do you think tariffs (extra taxes on products) are good or bad? Why?
- Why do you think the stock markets went down after the tariffs started?
- Experts say prices for products will go up in the US. Is this fair for people who live there? Why or why not?
- President Trump says some countries are not fair to the US. What do you think about this reason for the tariffs?
- The US plans to talk with other countries. What do you hope happens in these talks?
- English teachers looking for teaching ideas, check out my post on using easy news articles for lessons.
- English learners looking for study ideas, check out my post on using news stories for English practice.
Original Story
Fill-in-the-Blank Listening Practice
On _____, US President Trump started new tariffs. Tariffs are a tax _____ products from other countries.
There is a _____ tariff on products from China.
Many countries are _____ happy about the tariffs. They think their businesses and economy _____ be damaged.
In the _____, the S&P 500 went down $6 trillion. Stock markets went _____ in many countries. People think the stock markets will _____ down more.
The US will talk with South Korea, _____, Italy and Vietnam soon.
China does not _____ the tariffs. Big companies in China will work together to _____ their money.
Money experts say that the price of _____ in the US will go up.
President Trump says the tariffs are to stop _____ that are not fair to the US. This includes _____ of the US’s friends, like countries _____ Europe.
