Tariffs to hurt U.S middle class, Donald Trump to hike tax by $2000? Here's what a report states
- Posted on March 7, 2025
- By Business News Today
- 4 Views

Tariffs to hurt U.S middle class, Donald Trump to hike tax by $2000? Here's what a report states

US President Donald Trump's new tariffs on imports from Mexico, Canada, and China could lead to a $2,000 yearly tax increase for American middle-class families. Economist Dean Baker suggests these tariffs are less about tackling illegal drugs and immigration and more about addressing the budget deficit caused by tax cuts for the wealthy, impacting low and middle-income Americans.