The US economy is set for a significant price hike due to new tariffs imposed by the Trump administration. Americans are already feeling the pinch, with prices rising on everyday items such as cars, coffee, and clothing. The average U.S. tariff rate is expected to jump to its highest level since the Great Depression. This development could lead to further price increases for a wide range of goods, including appliances, home furnishings, toys, and shoes.
Source: https://www.washingtonpost.com/business/2025/08/08/tariffs-prices-cost-trump-groceries-clothes