American families have already paid nearly $1,200 each in tariff costs since President Donald Trump took office, according to estimates presented in a new report by the Joint Economic Committee (JEC)-Minority.

Combining Treasury Department data on the amount of tariff revenue collected across the first ten months of Trump’s term (February-November 2025) with independent private sector estimates of the per cent of each tariff dollar that is paid by American consumers, the Committee found that American consumers paid in total nearly $160 billion in tariff costs during the period.

American families have already paid nearly $1,200 each in tariff costs since President Donald Trump took office, according to estimates presented in a new report by the Joint Economic Committee (JEC)-Minority.
If monthly tariff costs remain as high as they were in November over the next 12 months, families will pay an average of $2,100 per year due to tariffs, it noted.

“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 Senator Maggie Hassan, ranking member of the Committee.

“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,” he noted in a release.

This tax on American consumers is already creating significant challenges for families, and studies suggest that families will pay an even greater share of tariff costs in the future, the report found.

If monthly tariff costs remain as high as they were in November over the next 12 months, families will pay an average of $2,100 per year due to tariffs, it added.

Fibre2Fashion News Desk (DS)