New analysis shows Trump's tariffs cost US households an average of $1,000 last year
Newsy
President Donald Trump's tariff policies cost each American household an average of $1,000 last year, and are set to cost those households an average of $1,300 through 2026, according to new analysis.
President Donald Trump's tariff policies cost each American household an average of $1,000 last year, and are set to cost those households an average of $1,300 through 2026, according to new analysis.
A new review of the president's tariff policies by the Tax Foundation, a nonpartisan research group, shows that tariffs on China, Canada, Mexico and the EU "amount to an average tax increase per U.S. household of $1,000 in 2025."
If the tariffs stay in place, their costs could be equivalent to an average tax per household of $1,300 in 2026.
Because most costs are passed on to consumers, experts say the majority of tariff costs are paid by those consumers — not by foreign countries, manufacturers, importers, or other intermediaries in the supply chain.
A study last year by The Kiel Institute found similar results: Americans are paying 96% of the cost of the tariffs, while foreign exporters are absorbing about 4%. The Kiel Institute said it analyzed over 25 million shipment records from over $4 trillion in U.S. imports.
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