Tariffs Will Hit Lower-Income Households Hardest

[applegrove]

Tariffs Will Hit Lower-Income Households Hardest

April 4, 2025 at 5:30 am EDT By Taegan Goddard 37 Comments

https://politicalwire.com/2025/04/04/tariffs-will-hit-lower-income-households-hardest/

"SNIP.........

“The ripple effects of President Donald Trump’s new wave of sweeping tariffs announced this week will be felt the most by lower-income Americans, who are heavily reliant on products from countries hit the hardest by Trump’s tariffs and have less disposable income to absorb higher prices,” NBC News reports.

“Trump is placing some of his highest tariffs on goods coming from countries making the low-cost products that line the shelves of discount retailers. Products from Vietnam, Sri Lanka and Cambodia, for instance, will have a more than 40% tariff — that is, now importers will need to pay 40% of the value of those goods to Customs and Border Protection at ports of entry to get them into the country. Goods from China will have a total of more than 70% worth of additional tariffs.”

..........SNIP"

[Ocelot II]

1. Of course. Economic shakeups almost always hurt the little guys the most.

[SheltieLover]

2. Always.

[dalton99a]

3. The poor will lose a lot, the rich will lose very little, and the gap will grow wider

[Squaredeal]

4. As long as they're doing better their neighbors, they're OK

If the rest are suffering more, it makes them feel superior.