Tariffs Surge to Highest Level in a Century — Who Really Pays the Price?

In a move reminiscent of protectionist policies nearly a century old, the Trump administration has imposed sweeping tariffs on imports from nearly 70 countries, pushing overall U.S. import taxes to historic highs. While presented as a bold effort to "restore fairness" and boost domestic manufacturing, these tariffs are already showing their true face: higher costs for American businesses and consumers.Who Bears the Burden When Tariffs Rise?Treasuries may welcome tariff revenues, but it is hardworking American families who inevitably foot the bill. The latest data confirm what common sense dictates—tariffs act as hidden taxes on everyday products. Research by Yale's Budget...