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Insurance Institute of Ontario- At the Forefront: Tariffs, Turbulence & the Tipping Point

  • An analysis details how current tariffs disproportionately impact American income groups.
  • President Trump previously imposed these tariffs, the steepest in over a century.
  • Economists predict businesses will pass tariff costs onto US consumers as higher prices.
  • Higher prices mean families earning $28,600 or less spend 6.2% more income.
  • This burden on low-income families is over three times greater than for the wealthiest Americans.
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Bias Distribution

  • 75% of the sources are Center
75% Center
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Drapers broke the news in on Friday, April 25, 2025.
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