7 articles · Updated · The Wall Street Journal · Apr 28
The Congressional Budget Office estimates 2026 tariffs will generate $331 billion, while tax cuts will save taxpayers $230 billion, leaving families and businesses worse off overall.
By October, cumulative tariffs from Trump’s second term are expected to reach $443 billion, exceeding the $379 billion in tax cuts. Consumers bear 70% of tariff costs, while businesses receive most tax cut benefits.
Analysts warn the net financial impact on Americans is negative, with tariffs offsetting tax relief. Historically, tariffs have been politically unpopular and are unlikely to win voter support in upcoming elections.
Your tax refund is bigger this year, but are new tariffs making you poorer?
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Billions in tariff refunds are owed to businesses, but who will actually get the money?
Has the tariff strategy successfully altered America's trade balance with other nations?
After a Supreme Court rebuke, are the administration's new trade tariffs legally sound?
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