Consider This from NPR Tariffs are a tax. Are you already paying it?
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Jul 16, 2025 Tariffs imposed by the Trump administration have created a whirlwind of economic changes. As prices rise on nearly all imported goods, American consumers are bracing for the impact. Experts predict that spending habits may shift as key shopping seasons approach. Small businesses are struggling under the weight of increased costs and the unpredictability of tariffs. The complexities of how tariffs function as a tax, particularly on lower-income families, reveal deeper political and economic dynamics at play.
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Tariffs Affect Consumer Prices
- Tariff rates have continuously fluctuated but remained at or above 10% on nearly every imported good.
- Economists predict American consumers will bear the financial burden of these tariffs.
Tariffs Hit U.S. Importers
- Tariffs generated $27 billion last month, quadruple the previous year’s amount.
- However, U.S. importers, not foreign suppliers, directly pay these tariffs, leading to higher prices for consumers.
Small Sellers Struggle With Tariffs
- Small store owners face the hardest challenges absorbing tariff costs.
- They struggle to decide whether to ship more inventory or wait due to unpredictable tariff hikes.