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Story summary
- A Tax Foundation report projects tariffs will cost American households about $700 in 2026.
- President Donald Trump is maintaining tariff policy while a New York Federal Reserve (Fed) survey shows 47% of service firms and 44% of manufacturers plan price hikes, many using a gradual “trickle-up” approach.
- Fed economists estimate tariffs added about 0.8 percentage point to core inflation, which hit 3.2% in March, the highest in three years.
