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This is what Trump’s latest tariff increase will cost the typical American household

Rising tariffs on $200 billion in Chinese imports will translate to an extra $831 in annual costs for the typical American household, according to new projections from Federal Reserve Bank of New York researchers.

Thursday’s projections on the impact of the newly-implemented 25% tariffs are about double the earlier estimates of $419 per household, the Fed said. The latest round of tariff hikes, in addition to those introduced last year, could cost over $106 billion for American households, the researchers said.

That could be approximately 19 gas tank fill-ups of a mid-size car’s 15-gallon gas tank if regular grade gas prices held at AAA’s $2.84 average.

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