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Trump Imposes New 11% Tariffs, Households Face $1,100 Cost

7/25/2026

Summary

Story summary

U.S. President Donald Trump introduced new tariffs on dozens of countries, effective Friday.
The tariffs range from 10% to 12.5%, averaging 11%, and replace a temporary 10% levy.
The Budget Lab estimates the tariffs will cost households about $1,100 each while generating roughly $1.9 trillion in revenue.
Cornell professor Eswar Prasad warned the tariffs will raise import prices, add to inflation and create uncertainty that could curb business investment.

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Story summary

U.S. President Donald Trump introduced new tariffs on dozens of countries, effective Friday.
The tariffs range from 10% to 12.5%, averaging 11%, and replace a temporary 10% levy.
The Budget Lab estimates the tariffs will cost households about $1,100 each while generating roughly $1.9 trillion in revenue.
Cornell professor Eswar Prasad warned the tariffs will raise import prices, add to inflation and create uncertainty that could curb business investment.