For years, Americans have been hit hard in the wallet with soaring prices thanks to inflation and the lingering effects of the pandemic. While President Donald Trump campaigned on lowering costs, especially at the grocery store, prices have crept up due to his global tariff policy. According to the White House, Trump’s tariffs are to “protect American workers” and bolster the United States’ standing in the global economy.
But the data shows Americans are actually paying more for essential and everyday items than before the tariffs. According to the Yale Budget Lab’s, “State of U.S. Tariffs” report, the average household shells out an extra $2,400 annually in higher prices as a result. Here’s what changed.
