Core Insights - The average effective tariff rate on imported goods in the U.S. has reached 18.3%, the highest level since 1934 [2] - Tariff policies are projected to reduce the U.S. GDP growth rate by 0.5 percentage points annually in 2025 and 2026 [2] - The unemployment rate is expected to rise by 0.3 percentage points by the end of 2025 and by 0.7 percentage points by the end of 2026 due to tariffs [2] Economic Impact - The average household expenditure in the U.S. is anticipated to increase by $2,400 by 2025, with significant impacts on clothing prices [2] - Short-term price increases for consumers are projected to be 40% for footwear and 38% for clothing [2] - Long-term price increases are expected to stabilize at 19% for footwear and 17% for clothing [2]

Core Insights - The average effective tariff rate on imported goods in the U.S. has reached 18.3%, the highest level since 1934 [1] - Tariff policies are expected to reduce the U.S. GDP growth rate by 0.5 percentage points annually in 2025 and 2026 [1] - The unemployment rate in the U.S. is projected to increase by 0.3 percentage points by the end of 2025 and by 0.7 percentage points by the end of 2026 due to these tariffs [1]