One Million Americans Threaten Poverty Due to Tariffs

New york: A study published this week found that the tariffs imposed by President Donald Trump could push nearly a million Americans into poverty, as they impose a heavier burden on low-income families. According to Yemen News Agency, the Yale Budget Lab estimated that Trump's tariffs-if they remain in effect after the Supreme Court ruling-would increase the number of Americans living in poverty by up to 875,000 people. Tariffs reduce the purchasing power, or "real" income, of families by raising prices or reducing income overall. "Because spending patterns vary among families, this burden is not felt equally," the Budget Lab explained in its report. Tariffs disproportionately burden low-income Americans, who already live day-to-day and cannot afford to lose more of their income. In this regard, Leanna Haakons, president and founder of Blackhawk Financial, told the New York Post, "Because lower-income households spend a larger share of their budgets on essential goods affected by tariffs, such as clothing , household goods, and basic electronics, they feel a heavier squeeze from even modest price increases." However, Haakons added that there is also the possibility that tariffs could stimulate domestic growth or wage gains, which could offset the effects of higher tariffs, according to the study. According to economists, less wealthy households also tend to purchase more imported products, which are heavily affected by tariffs.