Brace Yourself: Tariffs Now At 1930s Heights — Expect Up To 40% Bigger Shoe And Handbag Bills

Tariffs Protect Domestic ‘Winners’ And Import-Reliant ‘Losers’

U.S. tariffs have climbed to their highest average rate since 1934, and consumers may soon notice the difference when shopping for shoes, handbags, and other everyday goods. According to a July report from Yale University's Budget Lab, the average effective tariff rate is now 18.2%, with some categories — especially apparel and leather goods — facing much steeper hikes.

Why This Matters for Shoppers