Donald Trump has repeatedly argued that his tariffs do not financially hurt American consumers, yet new findings suggest households will feel a noticeable impact, marking what researchers describe as the biggest tax hike in decades. A recent report by the Tax Foundation estimates that the typical U.S. household will pay about $1,300 more in 2026 because of these tariffs, compared with an added $1,000 in 2025. Trump’s Tariffs Projected to Raise Household Costs, Marking Largest Tax Increase in Decades The tariff program began last April and introduced “reciprocal” duties on dozens of nations, including major partners such as China and the European Union, along with a blanket 10% charge on all imports. Since their launch, the measures have been postponed, withdrawn, reinstated, and expanded, creating instability in trade policy. Researchers found that the average effective tariff on U.S. imports has climbed to 9.9%, the highest level recorded since 1946. The study states, “The Trump tariffs are the largest US tax increase as a percent of GDP (0.54 percent for 2026) since 1993.” Analysts project that the tariffs will shrink GDP by 0.5%. The policy brought in $132 billion in revenue last year and could raise roughly $2 trillion over ten… Read MoreBusiness Archives – Trak.in – Indian Business of Tech, Mobile & Startups
