Last year, President Donald Trump announced new tariffs on imports from over 180 countries. At the time, Trump insisted that other countries would “eat” this extra cost. However, economists warned that Americans would end up paying the price. A person in a suit holds a large chart titled "Reciprocal Tariffs" detailing tariff percentages for various countries, speaking at a podium Chip Somodevilla / Getty Images Well, a new report from the nonpartisan Tax Foundation found just how much the tariffs cost Americans on average in 2025 — and, unfortunately, they’re predicting we’ll pay even more in 2026. People shop at a crowded grocery store, pushing red carts and browsing produce Tom Williams / Getty Images

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According to the report, “The Trump tariffs amount to an average tax increase per US household of $1,000 in 2025 and $1,300 in 2026.” Colombian coffee bags on a store shelf display labels stating medium and dark roast varieties, with illustrative graphics of butterflies Ucg / Getty Images Additionally, the report found that, “The Trump tariffs are the largest US tax increase as a percent of GDP (0.54 percent for 2026) since 1993.” Man sitting at a desk, looking concerned while reading a document in front of a laptop Coldsnowstorm / Getty Images

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This news comes after a study from the Kiel Institute for the World Economy reported last month that Americans had paid 96% of the cost of Trump’s tariffs while foreign exporters absorbed just 4%. Stacked shipping containers on a vessel under a clear sky, illustrating global trade and commerce Patrick T. Fallon / Getty Images

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In response, people are calling back to the viral moment when Trump called affordability a “con job by the Democrats.” Tweet by Rep. Gwen Moore: "Wait, I thought 'Affordability is a Democrat hoax'? The American people can see the truth at the checkout counter." RepGwenMoore / Via x.com And noting that people on lower incomes will feel the cost of the tariffs more acutely than the top 1%. Tweet by Grant Stern: "Tariffs are still taxes and they fall heaviest on people who aren't billionaires that got massive tax cuts last year." grantstern / Via x.com

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One person summed it up, “So basically, I paid 96% of the trade war for the honor of buying my essentials.” Tweet by Money With Context: "So basically, I paid 96% of the trade war for the honor of buying my essentials. The only thing Made in America here is the inflation." moneywcontext / Via x.com Now I’m curious: Are you seeing the tariffs hit your budget? What have you noticed? Let me know in the comments or via this anonymous form:

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