Yale University report: US tariff rate highest in 92 years
The Budget Lab, a policy research center, calculated the effects of all the tariffs implemented this year through Wednesday. That's before Trump signed the executive orders the following day.
It says US consumers are paying an overall average effective tariff rate of 18.4 percent -- up sharply from 2.4 percent before President Trump's inauguration for his second term in January.
The lab says the short-term inflation rate has risen by 1.8 percent due to the tariff measures. That's equivalent to an average income loss of about 2,400 dollars per household this year.
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