Senate Democrats on the Joint Economic Committee released a report Thursday estimating that tariffs cost the typical U.S. family nearly $1,200 from February through November.
Using data from multiple government agencies and Goldman Sachs, the report found the monthly cost of tariffs for households jumped from $54.65 in February to $184.51 in October.
If tariff levels remain unchanged in 2026, the typical household is projected to pay about $2,100 more for goods due to tariffs, the report said.
Tariffs, a tax on companies importing goods into the United States, are often passed on to consumers when businesses raise prices to offset the added expense. Some companies have said they try to absorb the costs, but many have not.
Tariff rates have surged since President Donald Trump took office in January. Last month, Trump floated the idea of Americans receiving $2,000 “tariff dividend” checks from the government, but the proposal has gained little traction.
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Trump has framed the tariffs as a way to generate revenue for the government and boost U.S. manufacturing jobs. The Treasury Department reported in September that customs duties brought in $195 billion during the first three quarters of the fiscal year.
“While President Trump promised that he would lower costs, this report shows that his tariffs have done nothing but drive prices even higher for families,” said Sen. Maggie Hassan, the committee’s ranking member. “At a time when both parties should be working together to lower costs, the president’s tax on American families is simply making things more expensive.”
Yale University’s Budget Lab issued a similar report, estimating tariffs add about $1,400 to annual expenses for the median U.S. household, with costs varying by income level. Clothing, electronics and metal goods tend to be among the most impacted categories, according to Yale.
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