Think tank: Trump's tariffs hit low-income Americans harder.

According to an analysis by the Institute on Taxation and Economic Policy, President Trump's tariff policy will actually have a tax-like impact on low-income families, with this burden being more than three times higher than that on high-income families. The think tank's report detailed the consequences that Americans at different income levels will face if the current tariff policy continues to be implemented next year. People with annual incomes of $28,600 or less are expected to spend an additional 6.2% of their income due to price increases; the wealthiest people with annual incomes of at least $914,900 will only need to spend an additional 1.7% of their income; and middle-income families with annual incomes between $55,100 and $94,100 will need to spend about 5% more of their income. Economists warn that the cost of higher tariffs will ultimately be passed on to American consumers. Although prices will rise for everyone, low-income families will be more severely impacted because they allocate a larger proportion of their income to essential goods such as food and clothing. According to estimates from the Yale Budget Lab, food prices will increase by about 2.6% in the short term due to tariffs. Among all affected goods, clothing prices are expected to increase the most, by 64%. The Yale Budget Lab further predicts that tariffs will lead to an average annual loss of $4,700 for American households.