'Crushing Family Budgets': Trump's Tariffs Push Everyday Costs Higher For Americans

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NY Governor Kathy Hochul further said Trump's tariffs were nothing but a disguised tax that was burdening hardworking families and filling the pockets of billionaires.
US lawmakers hit out at US President Donald Trump's sweeping tariffs on dozens of economies, including allies and rivals, as domestic businesses say the swarm of new import taxes is driving up costs and making business planning more difficult.
Sharing a video on X, New York Governor Kathy Hochul said, 'Trump's tariffs are jacking up prices and crushing family budgets. In New York, we're putting money back where it belongs: your pocket."
'How do you spell tariff. TAX. It's nothing other than a disguised tax. And who do we do that with? One of our greatest allies, people that we know as our friends and neighbours. The cost of everything is going to go up – everything. And all the hard-earned work you do to bring home that paycheck, less and less to buy the groceries you need."
Trump's tariffs are jacking up prices and crushing family budgets.In New York, we're putting money back where it belongs: your pocket. pic.twitter.com/oOrHjwZyyT
— Governor Kathy Hochul (@GovKathyHochul) August 5, 2025
Hochul further said Trump's tariffs were more concerned about 'lining the pockets of billionaires." She said her team has worked hard to put $5,000 back into the pockets of hardworking families to show that 'we are ready to fight back."
The tariffs have impacted the domestic services sector, which accounts for two-thirds of total US economic activity. Business activity unexpectedly flatlined in July with little change in orders and a further weakening in employment, according to Reuters, although input costs rose the most in nearly three years.
Democratic Congressman Ro Khanna pointed out on X, 'Americans are most stressed about grocery prices. Yet tomatoes at Mario's grocery store in Vegas have gone up from $1.19 a pound to $1.99 because of our tariffs on tomatoes from Mexico!"
Americans are most stressed about grocery prices. Yet tomatoes at Mario's grocery store in Vegas have gone up from $1.19 a pound to $1.99 because of our tariffs on tomatoes from Mexico. RT if you think we should repeal those tomato tariffs! https://t.co/cahTp2yrBA — Ro Khanna (@RoKhanna) August 5, 2025
'Trump's tariffs are hiking your prices at the grocery store so he can pay for his tax cuts for billionaires. That's exactly what Trump wants, and it's despicable. He's hurting you to help his billionaire buddies," wrote Chuck Schumer, Senate Democratic leader on Monday.
Trump's Tariffs On India
Meanwhile, Trump on Tuesday threatened the increase the 25% tariffs on India 'very substantially" over the next 24 hours, in view of New Delhi's continued purchases of Russian oil.
He also said a 'zero tariff" offer for imports of US goods into India was not good enough, alleging that India was 'fuelling the war" in Ukraine. 'They're fuelling the war machine, and if they're going to do that, then I'm not going to be happy," he told CNBC.
Trump's latest comment followed a similar threat on Monday, which prompted India's Foreign Ministry to say the country was being unfairly singled out over its purchases of Russian oil. Trump's ally and former presidential rival, Nikki Haley, cautioned India against Russian oil purchase, but also highlighted China for doing the same.
In the most pointed Republican criticism yet of Donald Trump's escalating trade stance toward New Delhi, Haley said, 'India should not be buying oil from Russia. But China, an adversary and the number one buyer of Russian and Iranian oil, got a 90-day tariff pause."
Nikki Haley, who has long positioned herself as both hawkish on Beijing and a proponent of India's strategic rise, added, 'Don't give China a pass and burn a relationship with a strong ally like India."
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New York, United States of America (USA)
First Published:
August 05, 2025, 23:50 IST
News world 'Crushing Family Budgets': Trump's Tariffs Push Everyday Costs Higher For Americans
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