How much could President Trump's tariffs cost the average household? According to new research from Yale's Budget lab, an extra $4700 this year. Our consumer team used US trade data to see which products we import the most that could be impacted. *** big one is tech. China, Mexico, Taiwan, and Vietnam are among the top countries we imported computer and electronic. Products from in 2024. Historically, Apple and HP, for example, have manufactured products in China, and just last week, Nintendo, whose main headquarters is in Japan, postponed pre-orders of its $450 switch to gaming console to assess the impact of new tariffs. Clothing is another category to watch with China, Vietnam, Bangladesh, and India among the top countries we imported apparel and accessories from supplier reports show China and Vietnam are major manufacturing hubs for brands like Nike and Levi's. Gap and its related brands are largely manufactured in India and Vietnam. The American Apparel and Footwear Association says imports make up 97% of the clothes sold in the US. Another item many of us buy prescription drugs. President Trump said this week that he plans to hit pharmaceutical imports with tariffs. Much of the active pharmaceutical ingredients to make our drugs come from overseas, with China, India, and the EU being major players in production. In Washington, I'm Amy Lou.
How rising tariffs could cost American families an extra $4,700 this year
![米兰体育 logo]()
Updated: 3:03 PM CDT Apr 10, 2025
A trade war is escalating between the U.S. and China, as President Trump hikes tariffs against China up to 145%. For other countries, a 10% tariff is in place, while the White House pauses steeper tariffs.Researchers at The Budget Lab at Yale report that tariffs could cost the average household an extra $4,700 this year.The National Consumer Unit analyzed trade data to identify which imported products could be most impacted by tariffs, should the president鈥檚 plan go into effect after the pause.Technology is a major category, with China, Mexico, Taiwan, and Vietnam among the top sources for computer and electronic products. Historically, companies like Apple and HP have manufactured products in China. Nintendo also recently delayed preorders for its $450 Switch 2 console to evaluate the impact of the new tariffs.Clothing is another area of concern, with China, Vietnam, Bangladesh, and India being key suppliers of apparel and accessories. The American Apparel and Footwear Association reports that 97% of clothes sold in the U.S. are imported. Supplier lists show that brands like Nike and Levis manufacture in facilities around the world including Vietnam and China. Gap and its associated brands have a heavy manufacturing presence in Vietnam and India.Prescription drugs could also be affected, as President Trump says he plans to hit pharmaceutical imports with tariffs soon. Much of the active pharmaceutical ingredients to make prescription drugs come from overseas 鈥� with China, India, and the EU being major players in production.
A trade war is escalating between the U.S. and China, as President Trump hikes tariffs against China up to 145%. For other countries, a 10% tariff is in place, while the White House pauses steeper tariffs.
Researchers at report that tariffs could cost the average household an extra $4,700 this year.
The National Consumer Unit analyzed trade data to identify which imported products could be most impacted by tariffs, should the president鈥檚 plan go into effect after the pause.
Technology is a major category, with China, Mexico, Taiwan, and Vietnam among the top sources for computer and electronic products. Historically, companies like Apple and HP have manufactured products in China. Nintendo also recently delayed preorders for its $450 Switch 2 console to evaluate the impact of the new tariffs.
Clothing is another area of concern, with China, Vietnam, Bangladesh, and India being key suppliers of apparel and accessories. The American Apparel and Footwear Association reports that 97% of clothes sold in the U.S. are imported. Supplier lists show that brands like Nike and Levis manufacture in facilities around the world including Vietnam and China. Gap and its associated brands have a heavy manufacturing presence in Vietnam and India.
Prescription drugs could also be affected, as President Trump says he plans to hit pharmaceutical imports with tariffs soon. Much of the active pharmaceutical ingredients to make prescription drugs come from overseas 鈥� with China, India, and the EU being major players in production.
