By Lauren Sforza | NJ.com
nj.com
(TNS)
President Donald Trump’s tariffs cost American households an average of $1,000 last year, according to a new analysis.
The report from the nonpartisan Tax Foundation found that U.S. households had a tax increase of $1,000 in 2025 and an increase of $1,300 in 2026 as a result of Trump’s tariffs. Trump has repeatedly boasted about his tariffs, arguing that it will drive up revenue for the country.
Despite Trump’s claims, experts repeatedly warned that the tariffs will only increase costs for Americans. Many companies said that they would need to increase prices as a result of the looming tariffs.
The report said that the weighted average applied tariff rate on all imports rose to 13.5% as of Feb. 6, while the average effective tariff rate rose to 9.9%. This is the highest average effective rate since 1946, according to the report.
Democrats seized on the report to criticize the tariff policies.
Rep. Nellie Pou (D-N.J.) said Trump is to blame for the increase in costs.
“$1,000 less towards buying a home. $1,000 less towards grocery shopping. $1,000 less in your savings account. You paid $1,000 more last year thanks to Donald Trump,” Pou wrote on social media platform X.
“This is a tax on you. You paid $1,000 more in a tax because of Trump,” Sen. Andy Kim (D-N.J.) wrote on X.
Rep. Malcolm Kenyatta (D-Pa.) posted: “Does paying an extra $1,000 a year so the President and his family rake in billions in cash make us great??”
The report was published on Feb. 6, just days before Trump touted his tariffs again on his social media platform Truth Social. It also comes as Trump awaits a Supreme Court ruling that could force him to remove his tariffs.
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“Record Stock Market, and National Security, driven by our Great TARIFFS. I am predicting 100,000 on the DOW by the end of my Term. REMEMBER, TRUMP WAS RIGHT ABOUT EVERYTHING! I hope the United States Supreme Court is watching,” Trump wrote in a Truth Social post last week.
Photo credit: President Donald Trump speaks during a trade announcement event in the Rose Garden at the White House on April 2, 2025, in Washington, D.C. Touting the event as “Liberation Day,” Trump announced additional tariffs targeting goods imported to the U.S. (Chip Somodevilla/Getty Images/TNS)
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©2026 Advance Local Media LLC. Visit nj.com. Distributed by Tribune Content Agency LLC.
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