US EditionTrump Sets Global Tariffs as Consumers Brace for Price Hikes
UNITED STATES, AUG 3 – Tariffs set for Aug. 7 will raise average U.S. household costs by about $2,400 annually, impacting prices on shoes, apparel, food, and automobiles, experts say.
- President Donald Trump announced updated tariff levels affecting imports from 66 countries, including the European Union and Canada, with the new rates set to begin on August 7, 2025.
- The tariffs, delayed from their original start date of August 2, reflect a continuation of a trade policy aimed at boosting U.S. manufacturing and shifting the tax burden away from families.
- These tariffs create significant pricing pressure across sectors, with retailers and manufacturers planning for rising costs and supply challenges ahead of key shopping seasons.
- Data indicate average U.S. household costs may rise by about $2,400 annually, shoes could increase 5% to 10% soon, and the new import tax averages 18.3%, the highest since 1934.
- The tariffs are expected to cause higher consumer prices and supply adjustments, while uncertainty complicates business planning and negotiations with trading partners continue through August 7.
43 Articles
43 Articles
The Killeen Daily Herald
Trump sets global tariffs as consumers brace for price hikes
(The Center Square) – Consumers across the country are bracing for higher prices on everything from coffee to cars as President Donald Trump's full suite of "Liberation Day" tariffs go into effect next week.
What consumers can expect from import taxes as U.S. sets new tariff rates
American businesses and consumers woke up Friday to find the contours of President Donald Trump's foreign trade agenda taking shape but without much more clarity on how import taxes on goods from dozens of countries would affect them. Late Thursday, Trump ordered new tariff rates for 66 countries, the European…
North Platte Nebraska's Newspaper
Effects consumers can expect from tariffs
It's been almost 100 years since the U.S. had tariffs at the level they could reach next Friday.
Several American companies are considering raising their price lists to balance the increase in costs related to the trade war wanted by President Trump
Trump Sets Global Tariffs as Consumers Brace for Price Hikes | Headline USA
(Brett Rowland, The Center Square) Consumers across the country are bracing for higher prices on everything from coffee to cars as President Donald Trump’s full suite of “Liberation Day” tariffs go into effect next week. Some public companies had previously delayed price hikes, but that could change as more tariffs become effective. Prices for clothes and shoes could jump. In the short term, consumers could pay 39% more for shoes and 37% more f…
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