4 April 2025
Where Trump’s tariffs could hurt Americans’ wallets
President Trump’s “Liberation Day” tariffs are set to significantly impact US household budgets as global markets plunge. Starting April, imported goods will face steep duties: Chinese and Vietnamese goods at 54% and 46%, EU alcohols at 20%, and various food imports at 10-36%. Electronics, cars, clothing, and groceries will see price hikes, with Yale’s Budget Lab estimating an average household cost of $3,800. Trump maintains the tariffs will make America “very rich.”READ FULL