Tariff Hikes To Hit American Consumers Hard

As trade tensions escalate, many Americans are wondering how tariffs will affect them. Economists warn that price increases on essential goods—including cars, oil, food, and alcohol—could cost the average household an additional $800 annually, Forbes reported.

The so-called “trade war tariffs" have generated revenue for the government, but economists argue that the costs borne by consumers.

The Tax Foundation estimates that the proposed tariffs in 2025 would effectively raise household taxes by about 2.5%. Forbes also noted that existing U.S. tariffs on certain goods already cost Americans $233 billion per year.

The so-called “trade war tariffs,” which began during Trump’s first term and were extended under Biden, have generated revenue for the government, but economists argue that the costs borne by consumers—especially those in the middle and lower-income brackets—far outweigh the benefits.