Trump's bigger tariff proposals would cost the typical American household over $2,600 a year

Distribution of tax increases and reductions under Trump proposals, percent change in after-tax income

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TCJA = Tax Cuts and Jobs Act
Notes: The tariff estimates examine a 20 percent tariff for most goods, except for a 60 percent tariff on imports from China. The net effect bars show the combined net effect of the loss from proposed tariffs and the gain from TCJA extensions. Tariff calculations are done using data from the Consumer Expenditure Survey on consumption patterns, following the method detailed in Clausing and Lovely (2024). TCJA extension estimates are from the Tax Policy Center; these do not include many business provision extensions that have been proposed. That inclusion would exacerbate the regressivity of TCJA extensions.
Source: Kimberly A. Clausing and Mary E. Lovely's Policy Brief, Why Trump's tariff proposals would harm working Americans.