While the Trump administration declares victory on trade, an analysis from the Yale Budget Lab shows their chaotic policies will cost almost half a million American jobs and raise the cost of living for households by an average of $2,800, with the poorest Americans paying a disproportionate share of the costs.
The Budget Lab forecasts an expensive back-to-school season for American families. Parents will see clothes prices spike by 15% this year.
Families trying to keep the fridge stocked on a budget will see food prices rise, with healthier food options like fresh produce hitting their wallets even harder.
Car prices have already increased thanks to Trump’s tariffs, and the Budget Lab’s report suggests those prices will continue to climb, adding $9,000 to the average new car purchase this year.
“If you’re lucky enough to keep your job in Trump’s economy, you’ll still struggle to afford the basics after his chaotic policies sent the cost of living into the stratosphere. He’s steering the economy right into the ground, and American families are paying the price,” said American Bridge 21st Century spokesperson Brandon Weathersby. “The longer Donald Trump and his administration recklessly toy with the economy, the more pain and suffering Americans will endure.”
Published: May 14, 2025