What happens when there is a surplus of imports brought into the U.S.?

International Trade and Finance Speech

Assume that you have been appointed as the Speaker of the House.
You must deliver a speech about the current state of the U.S.
macroeconomy to a number of amateur reporters who are unfamiliar
with economics.
Prepare a 750- to 1,050-word speech in simple terms and concepts
that focus on international trade and foreign exchange rates.
Integrate a summary of your answers to the following questions
and cite external research to further justify your facts:

What happens when there is a surplus of imports brought into the
U.S.? Cite a specific example of a product with an import surplus,
and the impact that has on the U.S. businesses and consumers
What are the effects of international trade to GDP, domestic
markets and university students?
How do government choices in regards to tariffs and quotas
affect international relations and trade?
What are foreign exchange rates? How are they determined?

Why doesn’t the U.S. simply restrict all goods coming in from
China? Why can’t the U.S. just minimize the amount of imports
coming in from all other countries?

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