Tariff Pains: High Costs Squeeze Americans
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
One year after President Trumps tariff plan, the Supreme Court ruled against him, but the average tariff rate remains high at 13.7%. Tariff cash flowed in at $195 billion last fiscal year, but the national debt has surged to $39 trillion. Home builders and car buyers face increased costs, with mortgage rates over 6% and gas nearing $4 per gallon. U.S. automakers like GM and Ford absorbed over $5 billion in tariff hits, with margins shrinking and average new car prices reaching $49,353. As midterms approach, tariff pains persist, impacting everyday folks from homes to highways.
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