The Impact of Tariffs
Data, news outlets and leading research institutions are all showing how tariffs are impacting Americans every day. Here, you can find those Key Statistics, News, and Reports, all in one place.
Polls & Studies: Quantifying the Impact of Tariffs
Data-driven insights show how tariffs are reshaping supply chains, business operations, and market competitiveness.
How US tariffs will hit prices and consumers
Yale Budget Lab estimates that US consumers will face the highest tariff rate since 1934, and an average per household income loss of $1,800. (Oct. 17, 2025)
Who loses the most from Trump's tariffs? Who wins?
Bloomberg Economics estimates tariffs will push the average US tariff rate to 15.2%, well above last year’s 2.3%.
Trump Tariffs: Tracking the Economic Impact of the Trump Trade War
Average tax increase per U.S. household is estimated to be $1.183 in 2025 and $1,445 in 2026. (Tax Foundation)
Trump tariffs won’t lead supply chains back to U.S., companies will go low-tariff globe-hopping
A CNBC reports that 75% of retailers foretell consumer pullback. (Apr. 14, 2025)
Majority of U.S. companies say they have to raise prices due to Trump tariffs
Over half (54%) of companies surveyed by insurer Allianz say they will have to raise prices to accommodate cost of tariffs.
In The News
Recent media coverage and analysis on tariff developments and their economic and political implications.
Small businesses facing bankruptcy over Trump’s tariffs go to Supreme Court for relief
Tariffs have dealt serious setbacks to America’s small businesses. To prevent further damage, family-owned businesses look to the courts. (The Washington Times, November 2, 2025)
Small Businesses Wither Under Trump’s Tariffs: ‘It’s Hard to Breathe’
Tariffs are rasising prices, and driving away customers, from small businesses, driving many to the edge or survival.
(The New York Times, September 29, 2025)
Small businesses brace for the punishing side effects of Trump's tariffs
Large firms with big bank balances, workers already in jobs and households near the top of the income ladder will have an easier time navigating the economic waves.
(The New York Times, August 11, 2025)
Frontloading, measured responses cushion tariff impact in 2025 but risk high for 2026
World merchandise trade is now projected to grow 0.9% in 2025, up from the -0.2% contraction forecasted in April but down from the 2.7% estimate pre-dating the tariff increases. (World Trade Organization, August 8, 2025)
Trump loves his tariffs. Too bad he's wrong about them.
A majority of Americans do not approve of tariffs, and believe they will have a negative impact on them and their families. There is good reason to be concerned. (The Hill, October 12, 2025)
Tariff profit risk turns into reality for growing corporate list
Pressure on businesses has grown as Trump’s tariffs —first announced in January in a bid to drive domestic manufacturing and create more revenue— heightened, scaled back, and renewed at a dizzying pace. (Bloomberg Law, August 8, 2025)
For America's 35M small businesses, tariff uncertainty hits especially hard
Tariff uncertainty forces small businesses to delay investments, absorb rising costs, and navigate unpredictable supply chains with fewer resources than large firms. (The Conversation, August 4, 2025)
Key Reports
Notable studies and findings that shed light on tariff impacts, trade flows, and industry responses.
U.S. tariffs: what's the impact on global trade and the economy?
J.P. Morgan Global Research brings you the latest updates and analysis of President Trump’s tariff proposals and their economic impact.
Tracking the Economic Impact of the Trump Trade War
Tax Foundation Experts provide up-to-date analysis of the impact of tariffs on the U.S. economy.
Trump's trade war timeline 2.0: an up-to-date guide
The Peterson Institute for Internatioanl Economics’ timeline of U.S. trade actions during Trump’s second term in office.