Summer is winding down, and with it comes a return of the worries we’ve set aside all season. Whether it’s the challenges of a new school year, unfinished home projects, or looming deadlines at work, the easygoing vibe of summer often lets us forget about the stresses waiting in the months ahead.
But this year feels different. For many households across the country, one concern stands above the rest as fall approaches: the rising impact of tariffs.
“Each household will have to suffer real income loss, about $2,100, in 2025,” said Kaiji Chen, an economics professor at Emory University.
According to the Yale Budget Lab , the overall effective tariff rate for American consumers is at 18.6%. This is the highest rate since 1933, meaning imported products are now much more expensive than us