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Tariffs could be costing Americans more money

Tariffs could be costing Americans more money

August 20, 2019 04:02 AM

While some tariffs on things made in China are now on hold until later this year, others are still slated to take effect on September 1st.    

So, what could that cost you?    

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According to J.P. Morgan, the average household will be down about 1,000 dollars when all the tariffs kick in.    

The average annual tariff cost per household will increase from 600 dollars from the first two rounds of tariffs.    

J.P. Morgan says the new tariffs will also offset the benefit Americans are receiving from the tax overhaul, which it estimates is around 1,300 dollars per year.

Credits

WNYT Staff

Copyright 2019 WNYT-TV LLC, a Hubbard Broadcasting Company. All rights reserved

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