On April 11th, a study released by the Yale University Budget Lab showed that tariffs would cause an average loss of $4400 for American households. Researchers indicate that the overall average effective tariff rate faced by American consumers is 25.3%, the highest level since 1909. The report shows that in the long run, the US economy will continue to shrink by 0.6%, equivalent to a reduction of $160 billion per year. In addition, by the end of 2025, the unemployment rate will increase by 0.5 percentage points and the number of job opportunities will decrease by 700000.
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