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Think tank analysis: Trump’s tariff plan will cost consumers dearly

March 27, 2024 at 3:21 PM
Former President Trump’s proposed across-the-board 10 percent tariff on all imports would cost the typical U.S. household roughly $1,500 per year, according to a new analysis from the Center for American Progress. Trump has repeatedly touted the tariff proposal on the campaign trail, charging it would reduce the U.S. trade deficit, combat China and spur U.S. manufacturing. The Center for American Progress Action Fund disagrees. The proposal would amount to a “roughly $1,500 annual tax increase for the typical household,”...

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