"From hair dye to baby formula, our grocery list has gotten smaller while our budget has had to increase. Meats like steak are a no-go for our household. Harris, 38, lives and works as a teacher's assistant in Stella, North Carolina, and is one of almost 40 people who spoke to the Guardian about how they've been coping with the price of goods in the six months since Donald Trump announced his sweeping tariffs."
"On Thursday, a study from S&P Global revealed that companies were expected to pay at least $1.2tn more in 2025 expenses than was previously anticipated. But the burden, according to the researchers, is now shifting to US consumers. They calculated that two-thirds of the expense shock, more than $900bn, will be absorbed by Americans. Last month, the Yale Budget Lab estimated tariffs would cost households almost $2,400 more a year."
Tariffs announced by Donald Trump have increased costs across a wide range of consumer goods, shrinking household grocery lists and forcing spending adjustments. Companies face at least $1.2tn higher expenses in 2025, with researchers finding two-thirds—over $900bn—will be passed on to US consumers. The Yale Budget Lab estimates tariffs could cost households nearly $2,400 annually. Many families report cutting purchases from hair dye and baby formula to steak and bread, with some noting bread prices have doubled and fixed incomes strained. A poll placed tariffs as the second biggest economic threat, and shoppers report growing apprehension and altered weekly budgets.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]