Live updates: Trump's tariffs expected to go into effect after midnight
The import taxes will reach a level not seen in the U.S. in almost 100 years, with Americans expected to pay an average of 18.3% more for imported products. That's the highest rate since 1934, according to the Budget Lab at Yale, a nonpartisan policy research center.
Companies are dealing with the tariffs in various ways. For example many automakers appear to be swallowing the costs for now. But most economists say the cost will ultimately be borne by U.S. consumers and businesses to some degree.
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Date: 2025-08-07 03:03:32
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