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2025-08-02 16:28:27
[90-Year High! US Tariffs Soar to 18.3%, Surge in Household Spending – Is an Economic Storm Brewing?] ⑴ A new Yale University study shows that as of July 31, the average effective tariff rate on imported goods in the United States had reached 18.3%. ⑵ This is the highest US tariff rate since 1934. ⑶ The study predicts that the tariff policy will reduce US real GDP growth by 0.5 percentage points each year in 2025 and 2026. ⑷ At the same time, the US unemployment rate will rise by 0.3 percentage points by the end of 2025 and by 0.7 percentage points by the end of 2026. ⑸ Tariffs will also cost the average American household $2,400 more in 2025. ⑹ Apparel will be particularly affected. ⑺ In the short term, shoe prices could increase by 40% and apparel by 38%. ⑻ In the long term, shoe and apparel prices could increase by 19% and 17%, respectively. ⑼ These data show that tariffs are having a profound and negative impact on the U.S. economy and consumers.
