High Costs After Tariffs Threaten Trump And GOP

The cost of living in the U.S. is projected to rise because of President Trump’s latest round of tariffs — a political problem for the president and Republican lawmakers who campaigned in 2024 on lowering grocery and household costs, a message that strongly resonated with voters, Alexander Bolton reported for The Hill,

Experts project that the higher fees on goods from Canada, the EU, Japan, South Korea, Vietnam, and other major trading partners could cost the average U.S. family of four an additional $2,400 or more annually.

More than six months into Trump’s second term, the costs of groceries and other essentials, such as cars, have continued to climb, coinciding with a drop in Trump’s job approval rating and growing public dissatisfaction with his handling of the economy.

Even “cheap” eats have become a social media talking point, with users grumbling about prices for items ranging from McDonald’s hash browns to Coca-Cola.

The price of eggs has eased in recent months, but a dozen still costs, on average, 64 cents more than a year ago. Prices for chicken, ground beef, and orange juice all rose last month compared to the same period last year.

While inflation as measured by the Consumer Price Index has stabilized at 2.7%, policymakers worry that prices could spike again — one reason the Federal Reserve is reluctant to cut interest rates, a point of tension between Fed Chair Jerome Powell and Trump.

Economists say the tariffs will put upward pressure on costs.

Experts project that the higher fees on goods from Canada, the EU, Japan, South Korea, Vietnam, and other major trading partners could cost the average U.S. family of four an additional $2,400 or more annually.