Trump’s trade war sparks recession fearsPresident Donald Trump insists he’s not backing down from his sweeping tariffs that have sparked fears of a recession and sent the markets spiraling.
ByYi-Jin Yu – April 7, 2025, 5:37 PM
The Trump administration’s introduction of new tariffs will impact American families and parents, increasing the cost of many household goods, experts say.
Economists and researchers say the cost to Americans will be significant, with estimates ranging from nearly $4,000 to almost $8,000 per household.
An analysis from The Budget Lab at Yale University estimates the latest April 2 tariffs, which levies at least a 10% minimum tariff on countries apart from Canada and Mexico, will cost American households an extra $3,800 this year, an increase of approximately 2.3%.
