for CNN 10 I'm Carl azuz we are 10 minutes of World News explained that
that starts today with tensions over trade between the US and China the Asian
country announced yesterday that it was putting tariffs or taxes on about three
billion dollars worth of imports from the US the tariffs are on 128
american-made products ranging from pork and fruit to steel pipes this will make
it more expensive for American businesses to sell those products in
China and China says this was done as a response to the tariffs that the US
recently put on imports of Chinese steel and aluminum meanwhile US President
Donald Trump says more tariffs new ones worth as much as 50 billion dollars are
being planned by the US on additional goods from China so one big question is
will all this cause a trade war when countries take turns putting tariffs on
each other's goods causing prices to rise we don't know yet the US and China
ship hundreds of billions of dollars of goods back and forth every year so the
tariffs we've seen so far are a tiny part of that and America's Treasury
secretary says the US and China are talking behind the scenes about how to
prevent a possible trade war but a number of experts are concerned this
could turn into one and so are some stock investors the Chinese tariffs were
a major factor in a drop of the US stock market yesterday when the Dow Jones
Industrial Average fell 459 points but just like it's hard to tell if a trade
war is on the horizon it's also hard to tell what kind of affects one could have
decades down the road what happens in a trade war sometimes all it can take is
one single tariff to start a trade war when a government imposes a new tariff
other countries sometimes tend to raise their tariffs and retaliation that can
lead to further tariffs which can lead to further tariffs and well you get the
idea but let's just talk about one tariff the chicken pair in the 1960s the
Europeans were being inundated with cheap American chickens demand for that
cheaper chicken skyrocketed and so Europe in order to protect their chicken
farms the tariffs on the American chickens one
thing is certain though trade Wars bring unintended consequences so it all
started with the Europeans humble chicken tariffs but then the Americans
responded with their tariffs on dexedrine brandy and some trucks and
cargo vans while the chicken tariffs eventually
went away and so did the retaliatory brandy and dextran ones the automobile
ones stuck they remain to this day and they're credited with the rise of
American car manufacturers dominance of the truck industry but some critics say
that that tariff supported dominance has sheltered and protected American
companies who haven't been forced to innovate so it started with chicken ends
up inadvertently affecting automobile engineering five decades later another
trade war reality loopholes companies and countries can creatively avoid some
tariffs this is the Ford Transit Connect now Ford is an American company but this
van is made in Turkey so it would be subjected a cargo van tariff but at
least until a few years ago Ford figured out that if they imported
these vans with seats in the back they could just call them passenger vans and
pay a much smaller tariff once they made it stateside they strip out the backseat
take out the window and sell it as a cargo van and pay no chicken tax US
Customs has since crack down on Ford's van shenanigans but with every new
tariff comes opportunities to get around them so what happens in a trade war just
give it like 50 years is the name of military drills being held right now
between the u.s. and South Korea two countries who've been allies since the
Korean War ended in 1953 and whose common rival has been North Korea the
war games have been held annually for years they angered North Korea which has
called them practice for invasion of the north the u.s. and South Korea say the
drills are defensive in nature but with change in the air with North Korea's
leader preparing for historic meetings with South Korea's president and
potentially with America's president there are some differences in this
year's drills it is a discreet and low-key start to
the joint us-south Korean military drills this year a very different
situation to what we usually see but clearly South Korean and US
officials don't want to provoke Pyongyang at a time when relations are
soaring and of course there is that that summit coming up between moon jae-in and
kim jong and dated for april 27th so what we're seeing at this point is the
foal Eagle field exercise military drills have started at this Sunday
they'll go for a month but that's half the time that they usually last last
year for example they went for two months we are hearing though from the
Pentagon from South Korean military officials they'll have the same scope
the same scale as previous years we know there are eleven and a half thousand new
US troops within foal Eagle there's two hundred and ninety thousand South Korean
troops but one interesting thing we should mention is that we haven't heard
about any media days usually we have heard about that by this time I'm
hearing that potentially we won't be seeing very much we won't be invited to
film very much as in previous years we do film it we show it to the world and
of course North Korea sees the capabilities of the u.s. and South
Korean military's so potentially we will hear very little response from North
Korea if they are not seeing exactly what these very visual and what they
believe to be provocative military drills our schools are closed today in
Oklahoma City the capital of Oklahoma but not for Spring Break teachers there
are among tens of thousands who are protesting for more school funding and
better pay their rallies have stretched across Kentucky and Arizona to
Oklahoma's teachers who recently received their first raise in a decade
said there was still an unacceptable lack of funding for things like
textbooks and school supplies Kentucky's teachers are protesting changes to their
pension plan what they rely on for retirement their state has a tremendous
shortfall in funding for teachers pensions Arizona's teachers recently
rallied for a 20% pay raise the state governor's office said they got one of
more than 4% from 2016 to 2017 but teachers there also want more funding
for education in this is all happening within a month of
a strike by teachers and school staff in West Virginia which resulted in pay
raises they're the largest funding source for schools is the government of
the state they're in for ten out of ten going off the grid doesn't necessarily
mean keeping your feet on the ground it also doesn't mean avoiding taxes the
couple you're about to meet still pays them according to the Canadian
Broadcasting Corporation but they have seclusion like few others you've heard
the expression whatever floats your houseboat or is it a boat house and does
it cost a yacht of money to keep it afloat in shipshape they say no man's an
island but they didn't exactly get roped into living on a man-made island guess
they just kind of like it that way I'm Carl azuz sounded off
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