Trump recently enacted tariffs on goods imported from China, and is negotiating additional tariffs on goods coming from Canada and Mexico.
A tariff is a tax on an item that comes into the US from another country. When companies pay more to bring these items in, economists agree they pass the cost along to us—the consumers.
Simply put, tariffs lead to higher prices. Everything from iPhones to avocados could become more expensive. Different think tanks have estimated that if all of Trump's tariffs are implemented, the average American family would lose between $800 and $1,200 in 2025 alone.
Trump ran on a campaign platform of lowering the cost of goods for Americans, but he's enacting policies that do the opposite.
More soon,
Katie Porter
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Former U.S. Congresswoman Katie Porter founded Truth to Power to support the campaigns of her fellow Democrats. Truth to Power supports candidates who will stand up to Donald Trump, fight to lower costs, and protect the environment. |
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