Trump’s proposed tariffs raise concerns over increased living costs

(MENAFN) US President-elect Donald Trump’s recent threats to impose broad new tariffs on imports, especially from China, are sparking concerns about their potential to sharply increase the cost of living for American families.

A recent National Retail Federation report suggests that these tariffs could reduce consumers' purchasing power by as much as $78 billion annually, affecting products commonly used in nearly every U.S. household.

Although alternative sourcing or expanded domestic production could provide some relief, these measures would not fully alleviate the financial strain on households.

Trump's plans include a universal tariff ranging from 10% to 20% on all imports, along with additional tariffs of 60% to 100% on Chinese goods, which would be added to existing duties.

If enacted, these policies would significantly raise the prices of essential consumer items such as clothing, toys, furniture, household appliances, footwear, and travel goods.

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