U.S. households could face higher costs due to Trump-backed tariff policies, according to a Yale budget lab report. The report estimates that the 2025 tariffs will raise household expenses by $3,800 this year and increase short-term price levels by over 2%. Trump defended the tariffs on Truth Social, saying they generate tens of billions in revenue and help address trade deficits. He criticized Biden for allowing trade surpluses with foreign countries.
