Trump's tariffs cost American households $1,000 last year: Research group
ABC News • • business
Key Points:
- New research from the nonpartisan Tax Foundation estimates that President Donald Trump's tariffs cost the average American household $1,000 in 2025, with costs expected to rise to $1,300 in 2026 if tariffs remain.
- The Tax Foundation describes these tariffs as the largest U.S. tax increase relative to GDP since 1993, contributing to increased living expenses amid ongoing high prices.
- Federal tariff revenues totaled $264 billion in 2025, significantly less than the trillions claimed by the White House, and the tariffs are projected to negate much of the economic gains from Trump's recent tax cuts.
- Tariffs mainly impacted prices of imported electronics, toys, cars, and food items such as coffee (up
