As COVID-19 reshapes our economy, our newsletter will help you unpack the news from the day.
Last year, the Trump administration imposed new tariffs on roughly $280 billion worth of U.S. imports — everything from solar panels and washing machines, steel and aluminum, and about half of what we import from China. In response, Ford, Coca-Cola, Walmart and other large companies have warned about the impact of tariffs on their bottom lines. But what effect are these tariffs having on U.S. consumers and households? The consumer price index, which tracks price changes across a wide selection of goods and services, is 0.3 percent higher now than it would have been without the tariffs, according to recently released analysis from the Federal Reserve Bank of New York. Researchers at Princeton University and the London School of Economics estimate the tariffs are costing the average U.S. household an additional $112 per year.
Click the audio player above to hear the full story.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.