Tariffs could cost the average American household $3,800 per year. Here’s how to save for it

Tariffs could cost the average American household $3,800 per year. Here’s how to save for it

By Marcos Cabello, Bankrate.com Tariffs could cost the average American household $3,800 in 2025, according to The Budget Lab at Yale University. This estimate comes even as President Trump announced a 90-day pause on tariffs earlier this month, temporarily reducing most tariffs to 10% in the meantime, while maintaining higher rates for countries including China. Related Articles America (and I) went on a pre-tariff splurge in Marc…

Tariffs might cost the average American household $3,800 per year. Here’s how to save for it

By Marcos Cabello, Bankrate.com Tariffs could cost the average American household $3,800 in 2025, according to The Budget Lab at Yale University. This estimate comes even as President Trump announced a 90-day pause on tariffs earlier this month, temporarily reducing most tariffs to 10% in the meantime, while maintaining higher rates for countries including China. Related Articles Tackling tariffs: What some companies are saying, an…

Why trade between countries shouldn't 'balance'

Although President Trump has paused his order imposing high tariffs on many countries, the threat still hangs. Two reasons this is a terrible idea: It is like returning to a world without money, a primitive barter economy. Citizens and companies no longer buy and sell freely, but only when the government lets them. On the first point, consider your household budget.  It is well balanced if your monthly income is close to your expenses.  If it’s…

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Experts: Tariffs could slow emissions, but at a cost

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Tariffs Could Cost the Average American Household $3,800 per Year, Says Yale Study

Here’s what you need to know about how tariffs will affect your finances and practical strategies to prepare your budget and savings.