Midwest Study Says Trump Tariffs Cost Households $2,000 and 41,000 Jobs
Updated
Updated · MinnPost · Aug 18
Midwest Study Says Trump Tariffs Cost Households $2,000 and 41,000 Jobs
2 articles · Updated · MinnPost · Aug 18
Summary
$2,000 in added annual household costs, 41,000 lost manufacturing jobs and $18 billion in lower output were tied to the 2025 tariffs across six Midwest states, a new Midwest Economic Policy Institute analysis found.
The report blames the losses on broad-based import taxes that raised costs for parts, metals and machinery, while retaliatory tariffs from trading partners cut demand for Midwest exports.
Minnesota alone saw nearly $1,000 in added household costs, 6,100 manufacturing jobs lost and $2 billion in reduced annual output, with lower-income households hit about three times harder than the top 10% of earners.
The study says the Trump administration's latest tariff round, announced last month after the Supreme Court invalidated the 2025 levies, doubles down on a blanket approach rather than targeted protections for specific industries.