this post was submitted on 13 Dec 2025
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Sweeping taxes on imports have cost the average American household nearly $1,200 since Donald Trump returned to the White House this year, according to calculations by Democrats on Congress’ Joint Economic Committee.

Using Treasury Department numbers on revenue from tariffs and Goldman Sachs estimates of who ends up paying for them, the Democrats’ report Thursday found that American consumers’ share of the bill came to nearly $159 billion — or $1,198 per household — from February through November.

“This report shows that (Trump’s) tariffs have done nothing but drive prices even higher for families,” said Sen. Maggie Hassan of New Hampshire, the top Democrat on the economic committee. “At a time when both parties should be working together to lower costs, the president’s tax on American families is simply making things more expensive.”

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[–] rayyy@piefed.social 52 points 22 hours ago (6 children)

$1,200 is only part of the cost. Farmers lost 44 billion dollars and got 12 billion back from the biggest loser. They've lost their markets so prices will plunge and farmers will lose their farms. So much winning. His lies are the not really the best but the farmers' lack of intelligence is mind blowing.

[–] ReallyActuallyFrankenstein@lemmynsfw.com 19 points 20 hours ago (2 children)

And even if the tariffs were revoked today, prices are effectively permanently higher. There is no mechanism to lower prices in the way tariffs have raised them.

[–] frongt@lemmy.zip 2 points 19 hours ago (1 children)

Subsidies are coarse and indirect, and unfortunately unless you build in explicit price controls (and would either party even consider that?) the market will not stop charging prices that now people have demonstrated they will pay.

At best they will slightly lower prices but nowhere near as reliable as tariffs raised them, and also inefficiently divide that benefit of the subsidy with the business that will skim extra profit now at the expense of taxpayers. I.e., a citizen still paying more for less.

[–] MDCCCLV@lemmy.ca -1 points 20 hours ago (1 children)

You have sales, which is an easy way to do that. And discounts can be basically permanent.

[–] some_designer_dude@lemmy.world 8 points 20 hours ago

Yes, there are technically ways to lower prices. The impossibility is due to the complete lack of incentive for corporations to do so. So, it won’t be happening.

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