Story perspectives
Tariffs Surge to 17.9%, Costing Households $2,400
10/12/2025
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Story summary
- The Trump administration has imposed tariffs on steel and aluminum, with more on semiconductors and pharmaceuticals expected next month.
- The tariffs raise the average effective rate to 17.9%, the highest since 1934.
- They are projected to cost U.S. households an average of $2,400 by year-end.
- Manufacturing job openings rise as a result of the tariffs.
- Experts propose using tariff revenues to fund workforce training and boost competitiveness.
