August 7, 2025
NBC Boston recently interviewed Jay Zagorsky, Clinical Associate Professor of Markets, Public Policy, and Law, about the growing impact of President Trump’s tariffs on consumers.
The latest policy imposes higher import taxes on goods from more than 60 countries, sparking questions about how the increases will affect everyday spending. Many restaurants are already paying twice as much for certain products, meaning consumers could soon face higher prices as business owners adjust. Nationwide, Yale University researchers estimate the tariffs could cost the average household roughly $2,400 this year.
“We’re not going to see things right away; we’re going to start seeing things go up in price once items start leaving the warehouse and the warehouse needs to be restocked,” Zagorsky adds.
He also notes that tariff rates could change rapidly depending on ongoing negotiations – meaning nothing is set in stone.
