How much will Trump's trade war cost you?

Jobs and Economy
While Democrats support smart trade enforcement, President Trump’s ham-handed approach is hurting Americans instead. The New York Times has some helpful charts today that show just how much the President’s trade war is costing families across the country. Take a look:
“The trade war has begun, and it arrives with potentially far-reaching consequences for international relations and the global economy. But what about your household? What is it going to cost you?”

“For the more than $80 billion in tariffs that the United States has already placed on washing machines and solar energy cells and panels; on most steel and aluminum imports; and on hundreds of products made in China, the short answer is $60 a year per household.”

“This does not include the potential impact of taxes on $200 billion worth of Chinese imports that the Trump administration enumerated this week; the earliest those could go into effect would be September. Including those tariffs would bring the total annual costs for the average American family to $127.”

“The numbers also don’t include the costs to some Americans in their roles as producers, as opposed to consumers — people who could lose their jobs or see lower incomes because other countries retaliate by taxing American products.”

“For the already active tariffs, here’s how the $60 per average household breaks down: American households will pay about $7 a year extra for the washing machine and solar tariffs, $20 for the steel and aluminum tariffs, and $33 more because of the newly taxed Chinese goods that went into effect last week.”