President Donald Trump’s next wave of tariffs will soon go into effect Thursday, likely driving up costs on a slew of household goods.
These tariffs are slated to affect imports from more than 60 countries, including Brazil, India and Japan, and their effects are poised to be borne heavily by U.S. consumers.
According to one estimate from the Yale Budget Lab, all 2025 tariffs together are set to cost the average U.S. household an additional $2,400 per year.
The White House has previously argued that tariffs are needed to incentivize more investment in U.S. goods and address trade imbalances. A White House spokesperson did not immediately respond to a request for comment Sunday.
Trump’s Thursday deadline follows the White House’s decision to pause on higher tariffs for a number of countries earlier this year, raising questions about whether the administration would push the date yet again.
“These tariff rates are pretty much set,” U.S. Trade Representative Jamieson Greer said in a CBS News interview that aired on Sunday, suggesting that many levies won’t change much in the coming days.
The tariffs span a wide range with several countries being hit with a 15% levy, while others like Laos and Brazil are seeing higher rates at 40% and 50%, respectively. (Trump has cited Brazil’s treatment of former President Jair Bolsonaro among his reasons for the higher import tax on the country’s goods.)
Many companies are widely expected to pass the cost of tariffs on to customers. If an item that typically costs a company $10 to import is hit with a 10% tariff, for instance, it will then cost the business $11 to import, the BBC explains. That extra cost is usually added, in part, to the price of the good when it’s sold in stores.
Some of the chief goods that are expected to be affected include computers, clothing and toys. And companies like Adidas and Mattel have warned as much. Already, home furnishings and appliances have seen upticks in price, The New York Times reports.
“The question is really what’s not going to go up in price,” Barry Appleton, co-director of the New York Law School Center for International Law, told CBS News.