US Economic Update and Tariffs

Flashcards summarizing key vocabulary and concepts from a lecture on US tariffs, stock market reactions, and trade negotiations.

Tariffs

Taxes imposed by a government on imported goods to protect domestic industries and generate revenue.

Trade War

A situation in which countries impose tariffs or other trade barriers on each other in response to trade policies.

Negotiation

Discussion aimed at reaching an agreement between two or more parties with differing perspectives.

Imbalance Economy

An economic situation where the supply and demand of trade between countries are not evenly matched.

Flooding the Market

The act of a country or company overwhelming a market with a large amount of foreign goods.

Good Faith Negotiations

Bargaining that is intended to be fair and honest, without deception.

Economic Recovery

The phase in which an economy regains and sustains economic growth after a recession.

Rational Administration

A governing body that makes decisions based on reasoning and deliberation rather than impulsive actions.

non-retaliating

tariffs that do not provoke countermeasures from trading partners.