The article discusses the imminent impacts of tariffs on U.S. supply chains, particularly focusing on how businesses will determine whether they can absorb price increases resulting from these tariffs. Factors such as customer acceptance of price hikes and profit margins will be crucial in determining pricing strategies for various goods. The piece highlights both immediate and long-term economic effects of these tariffs, asserting that households could potentially lose purchasing power and face increased prices in essential sectors like natural gas and electronics.
As the tariffs first hit, the Tax Foundation estimates they will be an effective tax of more than $830 per U.S. household this year.
The Budget Lab at Yale University estimates the average U.S. household will still lose about $1,000 of purchasing power a year.
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