Impact of Tariffs on American Consumers

Tariffs serve as a tax on international trade, leading to potential price increases for American consumers. When importers face tariffs, they can pass these costs onto consumers, resulting in higher prices for everyday goods. For instance, Trump's proposals included imposing substantial tariffs on Chinese imports, which could cause American consumers to spend upwards of 20% more on necessities. This raises concerns among economists regarding the overall economic burden placed on the middle class and the effectiveness of tariffs in protecting domestic suppliers.