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Analysis: Trump's tariffs will cost U.S. consumers $1,400 next year
The Tax Foundation projects tariffs will cost U.S. households $1,400 in 2026, while legal challenges question the president's authority under a 1977 law.
- Next year, the Tax Foundation projects President Donald Trump's tariffs will cost U.S. consumers about $1,400 in 2026, attributing the cost directly to his prioritized tariff agenda.
- The Federal Circuit ruled 7-4 that tariff authority rests with Congress, affirming two lower federal courts that rejected Trump's tariffs under the 1977 law , which does not mention tariffs.
- Households have already paid an average tariff-related tax increase of $1,100 this year, while a Goldman Sachs report found consumers bear 55% of costs, U.S. businesses 22%, and foreign exporters 18%.
- Last month, the U.S. Supreme Court heard arguments testing the president's tariff authority, with Chief Justice John Roberts calling them `taxes on Americans` and the Tax Foundation projecting cost drops if IEEPA-based tariffs end.
- Even as courts weigh authority, President Donald Trump says tariffs aim to restore manufacturing jobs, shift the tax burden from families, and help pay down the national debt with import duties above 10% and some above 40%.
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Coverage Details
Total News Sources16
Leaning Left2Leaning Right4Center5Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 18%
C 46%
R 36%
Factuality
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