Trump administration tariffs cost American households an average of $1,000 each in 2025, with that number expected to rise to $1,300 in 2026 if existing levies remain in place.

According to research released by the Tax Foundation think tank on February 6, President Donald Trump's tariffs last year represented the largest U.S. tax increase as a percent of GDP since 1993, while the current average effective tariff rate of 10% is the highest since 1946. The report noted that most of tariff costs have landed on U.S. consumers and businesses in the form of higher prices. As a result, the policy has functioned in practice less like a penalty on foreign countries and more as a wide-ranging domestic tax increase.

The Tax Foundation calculates that Trump's tariffs will raise roughly $2 trillion in revenue between 2026 and 2035, driven largely by levies on Chinese imports, and a broad expansion of duties across consumer and industrial goods. However, the group warned that those gains will likely come at the expense of slower economic growth, reduced household purchasing power, and higher costs for U.S. manufacturers who are reliant on imported materials.

A large percentage of those levies could also get wiped out if the U.S. Supreme Court rules against the Trump administration, as part of the ongoing legal battle over the White House's use of the International Emergency Economic Powers Act (IEEPA) to justify its sweeping tariff policies. Tariffs enacted by the Trump administration over the last year have impacted around 67% of U.S. goods imports, the Tax Foundation estimates, but that share could dip to 20% should the Supreme Court strike down the IEEPA levies.