Jen Kiggans: Tariffs Were A Tax On American Consumers And Resulted In Price Increases Across The Country
Tariffs Were Taxes On American Consumers
PolitiFact: Trump’s Tariff Tax Hike Is The Largest Since At Least 1982, And Possibly Since 1951. “When measuring how much revenue the U.S. expects to collect, economists rank Trump’s ‘tax hike’ higher than any tax policy since 1982, and many estimates show it could be the largest increase since 1951. […] Measuring by how much the average tariff rate has increased, Trump’s tariff hike ranks as the biggest in almost a century. Measuring by how much tax revenue the tariffs will bring in, estimates vary. […] Experts say it is fair to call tariffs a tax.” [PolitiFact, 4/7/25]
Tax Foundation: Tariffs Are Taxes. “Tariffs are taxes imposed by one country on goods imported from another country. Tariffs are trade barriers that raise prices, reduce available quantities of goods and services for US businesses and consumers, and create an economic burden on foreign exporters.” [Tax Foundation, Glossary, Tariff, accessed 8/12/25]
U.S. Chamber Of Commerce: “Tariffs Bring Massive New Taxes On Food, Apparel, Back-To-School Items.” [U.S. Chamber of Commerce, 8/8/25]
HEADLINE: “New Tariffs Snap Into Effect, Raising Import Taxes To Highest Level Since Great Depression.” [NBC News, 8/7/25]
Sen Mullin: “Tariffs Is A Tax And It Will Be Passed On To Consumers.” [CNN, 3/13/25]
Trump’s Tariffs, The Highest Tariffs In Nearly A Century, Will Cost American Families Thousands Of Dollars
HEADLINE: “Trump's Latest Tariffs Will Cost U.S. Households $2,400 This Year, Analysis Says.” [Axios, 8/1/25]
Trump’s Proposed Tariff Rates Were The Highest In Nearly A Century And Will Cost The Average Family $2,400 A Year. “The new tariff rates President Trump announced late Thursday are the highest in nearly a century and will cost the average family about $2,400 this year, the Yale Budget Lab said.” [Axios, 8/1/25]
U.S. Consumers Were Expected To Absorb More Than $500 Billion In Tariff Costs. “On Thursday, a study from S&P Global revealed that companies were expected to pay at least $1.2tn more in 2025 expenses than was previously anticipated. But the burden, according to the researchers, is now shifting to US consumers. They calculated that two-thirds of the ‘expense shock’, more than $900bn, will be absorbed by Americans. Last month, the Yale Budget Lab estimated tariffs would cost households almost $2,400 more a year.” [The Guardian, 10/19/25]
U.S. Consumers Will Experience An Overall Average Effective Tariff Rate Of 18.3%. “U.S. consumers will experience an overall average effective tariff rate of 18.3%, the highest since 1934, according to new estimates from The Budget Lab at Yale University. The tariffs are expected to cost U.S. households an average $2,400 in 2025, the nonpartisan research center said.” [CNBC, 8/4/25]
- An Overall Average Effective Tariff Rate Of 18.3% Was The Highest Since 1934. “U.S. consumers will experience an overall average effective tariff rate of 18.3%, the highest since 1934, according to new estimates from The Budget Lab at Yale University. The tariffs are expected to cost U.S. households an average $2,400 in 2025, the nonpartisan research center said.” [CNBC, 8/4/25]
HEADLINE: “After A Lag, Consumers Begin To Feel The Pinch Of Tariffs.” [New York Times, 8/2/25]
August 2025: Companies Began To Shift More Tariff Related Costs Onto Consumers. “Companies are starting to shift more tariff-related costs onto consumers. Many businesses chose to absorb the additional tax during the early days of President Trump’s trade war. But evidence is emerging that they are running out of options to keep prices stable in the face of deteriorating profit margins, suggesting that the tariffs could have a more pronounced effect on prices in the months ahead. Government data, including from the Commerce Department this week, show that prices rose in June on items heavily exposed to tariffs, such as home furnishings, toys and appliances.” [New York Times, 8/2/25]
HEADLINE: “‘Everything Is About To Get Really Expensive’: Small-Business Owners Say Trump Tariffs Could Force Them To Raise Prices.” [CNBC, 8/4/25]
Many Ceos Of Small And Medium-Sized Businesses Warned That Tariffs Would Force Them To Raise Prices. “‘Everything is about to get really f---ing expensive,’ says Melanie Abrantes, an Oakland, California-based business owner who sells home décor. Abrantes is one of many CEOs of small and medium-sized consumer product businesses in the U.S. who say President Donald Trump’s tariffs could force them to raise prices before the end of the year.” [CNBC, 8/4/25]
August 2025: U.S. Businesses That Stocked Up On Inventory Before The Tariffs Hit Were Starting To Run Out Of Supply. “Last week, Trump updated tariff rates for dozens of countries, ranging from 10% to 41% duties that go into effect starting Aug. 7. Goods that are considered to have been transshipped, or shipped through an intermediate country to disguise where they were originally made to avoid applicable duties, will be hit with an additional 40% rate. U.S. businesses that stocked up on inventory earlier this year are now starting to run out, they say. When they reorder from their overseas manufacturers, they’ll need to pay steep import costs.” [CNBC, 8/4/25]
Tariffs Led To Price Increases On A Myriad Of Essential Products, Including Cleaning Supplies And Food Costs
HEADLINE: “Here’s What Could Get More Expensive Under Trump’s Tariffs” [New York Times, 8/7/25]
HEADLINE: “‘Empty Shelves, Higher Prices’: Americans Tell Of Cost Of Trump’s Tariffs.” [The Guardian, 10/19/25]
August 2025: Tariffs Were Driving Up Prices On Everyday Goods. “The tariffs are driving up prices on everyday goods as businesses warn they can no longer absorb costs, leaving consumers to foot the bill.” [New York Times, 8/7/25]
Companies Such As Proctor & Gamble, Nike, Walmart, Best Buy, Ford, And Subaru Said They Would Raise Prices In Response To Tariffs. “P&G joins a long list of well-known companies that are increasing prices because of Trump’s often erratic stance on tariffs. Nike, Walmart, Best Buy as well as car companies Ford and Subaru have all said they are raising prices.” [CNN, 7/29/25]
HEADLINE: “The Maker Of Tide And Charmin Said It Will Raise Prices In Part Because Of Tariffs.” [CNN, 7/29/25]
Proctor & Gamble, Maker Of Household Staples Including Detergent And Toilet Paper Raised Prices Because Of Donald Trump’s Tariffs. “Procter & Gamble, the maker of several household staples including Tide detergent and Charmin toilet paper, is hiking prices because of President Donald Trump’s tariffs.” [CNN, 7/29/25]
Proctor & Gamble Said It Would Increase Prices On 25% Of Its Products. “The company revealed in Tuesday’s earnings call that its profits will take a $1 billion hit because of tariffs, a larger cost the company originally projected in June. As a result, P&G will increase prices on about 25% of its products, going into effect next month.” [CNN, 7/29/25]
Proctor & Gamble Warned In April 2025 That It Was Going To Raise Prices Due To Tariffs. “P&G previously warned in April that it was going to increase prices due to tariffs. CEO Jon Moeller said Tuesday a number of factors deflated consumer spending on its products, including ‘tariffs, inflation, interest rates, political and social divisiveness.’” [CNN, 7/29/25]
HEADLINE: “Beef Prices Are Soaring: Here’s Why.” [The Hill, 7/23/25]
Beef Prices Increased 8% Between January And July 2025. “Beef prices are soaring across the country and it is unlikely it will drop anytime soon. Since of the start of the year, the price of beef increased over eight percent and is currently selling for $9.26 per pound, according to the U.S. Department of Agriculture (USDA). The U.S. Bureau of Labor Statistics shows that the average price of ground beef, a staple in American households, increased to $6.10 last month. In June 2024, the average price was $5.36.” [The Hill, 7/23/25]
Tariffs Could Drive Beef Prices Even Higher As The United States Imports More Than 4 Billion Pounds Of Beef A Year. “President Donald Trump’s tariffs have yet to have a major impact on beef prices but they could be another factor that drives prices higher because the U.S. imports more than 4 billion pounds of beef every year. Much of what is imported is lean beef trimmings that meatpackers mix with fattier beef produced in the U.S. to produce the varieties of ground beef that domestic consumers want. Much of that lean beef comes from Australia and New Zealand that have only seen a 10% tariff, but some of it comes from Brazil where Trump has threatened tariffs as high as 50%.” [AP, 7/21/25]
Some American Households Were Forgoing Meat Like Steaks As Prices Rose Due To Tariffs. “As a mother of two, Paige Harris has noticed a change in the way she shops for her family. ‘Items that I have bought regularly have gone up in price steadily,’ she said. ‘From hair dye to baby formula, our grocery list has gotten smaller while our budget has had to increase. Meats like steak are a no-go for our household.’ Harris, 38, lives and works as a teacher’s assistant in Stella, North Carolina, and is one of almost 40 people who spoke to the Guardian about how they have been coping with the price of goods in the six months since Donald Trump announced his sweeping tariffs.” [The Guardian, 10/19/25]
Trump’s Tariffs Translated To A $1.9 Billion Food Tax In The Months Of May And June. “In May and June, the effective tariff on food products jumped to an average of 7% compared with 2% in the same months last year. These higher tariff rates translated into a massive $1.9 billion food tax – and that is just what was collected in two months.” [U.S. Chamber of Commerce, 8/8/25]
According To The U.S. Chamber Of Commerce New Tariff Food Taxes Were Levied On A Large Variety Of Food Products. [U.S. Chamber of Commerce, 8/8/25]
Image: see original report, p. 59
[U.S. Chamber of Commerce, 8/8/25]
Tariffs On Mexican Agricultural Imports Contributed To Spiking Prices On Raw Agricultural Products Including Dry And Fresh Vegetables. “On the goods side, higher food prices were the biggest culprit behind a 0.7% monthly increase. Raw agricultural products leapt 12.8% highest from June; and within that, fresh and dry vegetables saw a 38.9% monthly price surge, which is the largest since March 2022. ‘That clearly tells me that the tariffs that were slapped on Mexican agricultural imports are coming home to roost,’ Brusuelas said.” [CNN, 7/29/25]
Some Restaurants Were Increasing Prices By As Much As 15% To Account For Increased Expenses From Tariffs And Inflation. “Julia and Paul Pike expected menu adjustments and supply costs when they opened their food truck, Master BBQ, early last year. A few pennies here, a few pennies there ― incremental price increases were the cost of doing business. However, the Pikes said the significant increase in some ingredients and products essential to making authentic Filipino barbecue and signature dishes has resulted in raising prices for customers by as much as 15% or $3 for some dishes to account for uncontrollable expenses, attributed to inflation and tariffs.” [Citizen Times, 8/14/25]
In The Past Year, Tariff Rates On Typical Back-To-School Items Jumped From 5% To 18% “In the Past Year, Tariff Rates on Typical Back-to-School Items Jumped from 5% to 18% Backpacks, pens, pencils, erasers, folders, and paper are on many Americans’ back-to-school shopping list. All have been hit with higher tariffs, with the average tariff rate on these types of products in May and June of this year jumping to an average of 18% from an average of 5% in the same months last year. In just May and June of this year, these higher tariffs resulted in an estimated $73 million tax increase on back to school items.” [U.S. Chamber of Commerce, 8/8/25]
New Tariffs On Back To School Items Resulted In An Estimated $73 Million In Increases Taxes On School Supplies. “In the Past Year, Tariff Rates on Typical Back-to-School Items Jumped from 5% to 18% Backpacks, pens, pencils, erasers, folders, and paper are on many Americans’ back-to-school shopping list. All have been hit with higher tariffs, with the average tariff rate on these types of products in May and June of this year jumping to an average of 18% from an average of 5% in the same months last year. In just May and June of this year, these higher tariffs resulted in an estimated $73 million tax increase on back to school items.” [U.S. Chamber of Commerce, 8/8/25]
Shoe And Apparel Costs Were Expected To Rise By Over 35% In Response To Tariffs. “Some of the biggest price increases are expected in everyday categories such as clothing, food and cars, according to projections from the Budget Lab. In the short term, shoe prices are forecast to soar by 40 percent, while apparel costs could rise by 38 percent.” [New York Times, 8/7/25]
Budget Lab: Average Price Of A New Car Could Jump By Almost $6,000 In Response To Tariffs. “Some of the biggest price increases are expected in everyday categories such as clothing, food and cars, according to projections from the Budget Lab. In the short term, shoe prices are forecast to soar by 40 percent, while apparel costs could rise by 38 percent. Fresh produce prices are expected to increase 7 percent. The average price of a new car could jump by $5,800 in the short run. These price increases could add pressure to household budgets already straining to keep up with inflation.” [New York Times, 8/7/25]
Rising Prices On Industrial Goods From Tariffs Spilled Over Into Price Increases In The Service Sector. “More than three-quarters of the larger-than-expected monthly increase came from services, notably a sharp 4.5% upswing in purchased capital equipment prices. ‘The targeted area of tariffs, which has been industrial goods, the pricing pressures are now spilling over to the service sector,’ Joe Brusuelas, chief economist at RSM US, said in a phone interview. ‘[Services increases] all imply pipeline pressures for inflation.’” [CNN, 8/14/25]