New tariff policy may push up prices, American people: the government turns a blind eye to ordinary people

The recent announcement of new tariffs by the US government has raised concerns among US economic analysts, who predict that the new tariffs will further push up US prices and place a greater burden on consumers. The Tax Foundation, a US think-tank, expects the average import tax in the US to rise from 2.5 per cent last year to 19 per cent this year, the highest level since 1933. The foundation also said that after-tax income for US workers will fall by an average of 2.1 per cent this year, while the average American household will spend $2,100 a year more. JPMorgan analysts pointed out that the new US tariffs will cost Americans more than $660 billion in taxes in a year. Prices will soar again, and the long-running high inflation rate in the United States will be pushed up again.