American families are paying more for everyday necessities because of President Trump’s tariffs. Since taking office, the President has imposed the highest tariffs since the 1930s. American businesses pay the tariffs and pass the costs on to consumers through higher prices for clothing, automobiles, groceries, and even electricity and housing. These tariffs have undermined businesses’ competitiveness abroad while raising costs at home. And they hit low-income households hardest. The poorest households lose over three times as much of their income to tariff-driven price increases compared to the wealthiest households.
On February 20, 2026, the Supreme Court struck down tariffs President Trump had imposed on approximately 65 countries under a 1977 law. Within hours, the Administration announced a new temporary 10% global tariff under a different law enacted in 1974. When that tariff expired on July 24, 2026, the Administration immediately imposed new tariffs on 60 countries, ranging from 10% to 12.5%, under a different section of the 1974 law. Combined with additional tariffs on Canadian and Brazilian goods, these tariffs will cost the average household an extra $1,080 per year in the average congressional district.
Estimates were released on August 2, 2026.
