Trump's tariffs are worrying! NRF: Could reduce Americans' consumer power by $78 billion annually.
The National Retail Federation reports that the tariffs proposed by Trump could cost usa consumers between 46 billion to 78 billion dollars annually. Tariffs will lead to price increases for outfits, toys, furniture, and other products, which will ultimately be passed on to consumers by retailers. Wall Street investment banks have pointed out that comprehensive high tariffs could severely impact economic growth, potentially leading to collective price increases by retailers.
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Concerns over Trump's tariffs! They may cause a reduction of 78 billion dollars in consumer purchasing power for people in the usa each year.
A report from NRF shows that if new tariffs are implemented, usa consumers could lose between 46 billion and 78 billion dollars in consumer spending each year, or lose between 362 and 624 dollars per household.