U.S. households could face higher costs due to Trump-backed tariff policies, according to a Yale budget lab report. The report estimates that the 2025 tariffs will raise household expenses by $3,800 this year and increase short-term price levels by over 2%. Trump defended the tariffs on Truth Social, saying they generate tens of billions in revenue and help address trade deficits. He criticized Biden for allowing trade surpluses with foreign countries.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02U.S. households could face higher costs due to Trump-backed tariff policies,
00:06according to a Yale Budget Lab report. The report estimates that the 2025 tariffs
00:11will raise household expenses by $3,800 this year and increase short-term price levels by over 2%.
00:17Trump defended the tariffs on True Social, saying they generate
00:20tens of billions in revenue that help address trade deficits.
00:24He criticized Biden for allowing trade surpluses with foreign countries.
00:27For all things money, visit Benzinga.com.