Donald Trump Won the election on the strength of all the promises like reducing inflation in America and became the President of America for the second time. But, after winning the election, ordinary Americans do not see relief from inflation, but the burden of inflation is constantly increasing on them. Due to the huge tariffs imposed by Trump on different countries, Americans are now paying more money to buy anything imported, increasing the economic burden on them.
Americans are paying the most tariffs after 1933
Washington’s Senator Patty Murray said on her X, “To date, thanks to Trump, Americans have been paying the most tariffs since 1933 and the average household will have to bear a loss of $ 2400 due to Trump’s tariff. You are paying more for almost everything because of Trump.
Families with low income will have the worst effect
According to Outlook, the latest food price of the USDA’s Economic Research Service, the overall Food Consumer Price Index (CPI) from June to July this year has increased by 0.2%, which corresponds to overall inflation, but indicates frequent pressure on retail prices. By the end of this year, food prices are estimated to increase by 3.4%, which is more than 20 years of historic average of more than 2.9%. The worst effect of this increase will be on those people and families of America, whose income is low.
Possibility of huge increase in prices of agricultural products
Apart from India, Donald Trump has also imposed heavy tariffs on Canada and Mexico. Canada and Mexico export large amounts of agricultural products to the US. This will directly increase the prices of agricultural products in the US. The US imported $ 195.9 billion agricultural products in 2023, with Mexico and Canada contributed 44%.
Consumers will be put on the burden of increased tariff
According to the Yale Budget Lab, the prices of food items in the US are expected to increase by 2.8% in total, including an increase in fresh yield by 4%. Independents such as wholesale vendors and retailers put high cost burden on consumers. The US depends on 94% shrimp (mostly Ecuador, India, Indonesia and Vietnam, with 10–50% tariffs on the import of 55% fresh fruits and 32% fresh vegetables.
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