Donald Trump’s second term has seen tariffs rise sharply, from about 2.5% to nearly 9% in practice. Tariffs are essentially a tax on imported goods, and while they aim to protect domestic industries, the real cost falls on consumers.

Prices of everyday products have gone up, not just for imports but also for their domestic substitutes. This has pushed inflation closer to 3%, forcing the Federal Reserve to hold off on cutting interest rates, slowing growth further.

While big tech stocks keep the NASDAQ high, other indices reveal struggling sectors, especially small businesses. The IMF predicts US GDP growth could fall from nearly 3% to just 1.9% this year, and even lower in 2026.

Jobs are also under pressure, with weaker hiring data and rising unemployment fears. Meanwhile, the dollar’s strength has dipped against other currencies, reducing Americans’ global purchasing power.

In short, while tariffs bring revenue, they risk creating a cycle of higher inflation, weaker growth, and job losses, an economic storm hitting Americans more than they realize.