Trump Tariffs Will Cost US Households $500 Each

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

The Wall Street Journal reports on our latest tariff haul:

The U.S. is now on a pace to generate $72 billion in tariffs annually, and could well hit the $100 billion mark Mr. Trump has touted if new 10% tariffs on $300 billion in untaxed imports take effect on Sept. 1, as threatened….Although the U.S. had relatively low tariffs before the Trump administration’s latest actions, it still collected about $30 billion annually in pre-existing tariffs assessed against imports from China, Europe, Japan and other countries.

That’s $70 billion in new tariffs. The US has about 130 million households. So this comes to about $500 for every household in America.

Normally Republicans would be up in arms about higher taxes, but tariffs are a regressive tax so it’s OK. Anything that hits the rich more lightly than the poor is always worth a sympathetic look. And if it’s an invisible tax that screws the poor without them even knowing it? Now that’s a tax a Republican can love.

We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

payment methods

We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate