Trump’s Tariffs Will Cost You About $500 This Year

Today the New York Times rounds up several estimates of the impact of Donald Trump’s beloved tariffs. So far. According to the Tax Foundation, they’ll raise $69 billion, which comes to $530 per household. According to the New York Fed, they’ll raise $106 billion when you account for deadweight losses—or $831 per household. The Penn Wharton Budget Model figures Trump’s tariffs will cost the average household about $500. But that’s not all:

So there you have it. The tariffs will cost you $500; they’ll cut growth; they’ll reduce wages; and they’ll eliminate 155,000 jobs. But other than that, how was the show, Mrs. Lincoln?

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LET’S TALK ABOUT OPTIMISM FOR A CHANGE

Democracy and journalism are in crisis mode—and have been for a while. So how about doing something different?

Mother Jones did. We just merged with the Center for Investigative Reporting, bringing the radio show Reveal, the documentary film team CIR Studios, and Mother Jones together as one bigger, bolder investigative journalism nonprofit.

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It won’t be easy. There are many exciting new things to share with you, but spoiler: Wiggle room in our budget is not among them. We can’t afford missing these goals. We need this to be a big one. Falling flat would be utterly devastating right now.

A First $500,000 donation of $500, $50, or $5 would mean the world to us—a signal that you believe in the power of independent investigative reporting like we do. And whether you can pitch in or not, we have a free Strengthen Journalism sticker for you so you can help us spread the word and make the most of this huge moment.

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