Americans Are Starting To Feel The Effects Of The New Tariffs And Share Their Infuriating Receipts

It was almost like a late April Fool's prank for some... On 2 April 2025, President Donald Trump imposed a 10% baseline tariff on all imports into the U.S. Dozens of the country's trading partners were also hit with even higher import taxes, sparking a trade war where there are more losers than winners. Trump made the "Liberation Day" announcement at a White House Rose Garden ceremony. But many were feeling anything but liberated afterwards...

While some of the big tariffs were put on pause, the impact of the ones in place are being felt far and wide. Prices are increasing, as small and large businesses battle to survive. For many business owners, it's become a toss-up between passing the tariff cost to consumers, or absorbing the shock themselves.

"Tariffs are taxes on imported goods," WalletHub's financial writer and analyst, Chip Lupo tells us during an interview, adding that Trump imposed the higher tariffs to "boost U.S. manufacturing, protect American jobs, and reduce the trade deficit by imposing taxes on imported goods, particularly from countries believed to be unfair trading partners."

But many ordinary Americans and business owners are struggling to buy into the idea. "When tariffs are implemented, the cost of goods usually rises, which can lead to higher prices for businesses and consumers. Companies may pass their extra costs onto the consumer, making everyday items more expensive," explains Lupo. "This can slow economic growth, increase inflation, and hurt industries that rely on exports if other countries retaliate with tariffs of their own. In practical terms, that means paying more for everyday goods and potentially more uncertainty in the job market."

In April, we brought you the story of content creator and small business owner Lexi Larson. She went viral after sharing how her dream was being crushed by Trump's tariff hikes. And how she was left in shock and speechless after finding out she stands to lose thousands because of sudden skyrocketing import taxes.

Larson revealed that she simply doesn't have the money to continue buying goods for her small business. And because of that, she might have to return to the corporate world and risk facing burnout once again. Larson is one of many in the same sinking boat... Trying to navigate some very choppy waters.

"The latest tariffs have placed many businesses in a holding pattern as they wait to see what future trade rules will look like," Lupo says. "While recent tariff rollbacks for some goods will provide at least some short-term relief, the overall uncertainty is making it tough for businesses to plan and invest confidently."

Some companies, especially the smaller ones, aren't left with much of a choice. If they carry the tariff costs themselves, they face going out of business. It's become a fight for survival. So they're increasing the prices of their imported goods, while trying to be as transparent as possible.

"Maybe they're going to lose customers because of the higher rates, but at least being transparent will help reduce the damage," venture capitalist and associate professor of management at Babson College, Peter Cohan told Business Insider.

Many consumers were expecting to feel the effects of the tariff increase. A recent survey conducted by the Economist and YouGov found that 75% of people polled thought that Trump's tariffs would increase prices. 61% of the of 1,850 adults surveyed said they'd like businesses to display how much of a purchase price goes toward paying tariffs.

But this isn't something the U.S. government is keen on. "The obvious reason why the White House wouldn't want businesses to show tariff costs is because it makes it obvious how much their policy is costing consumers," Cohan explained. "It's going to drive down the poll ratings because consumers will be extremely aware of how much more they're paying and who's causing them to pay it."

Ordinary Americans are divided on whether the tariff hikes are indeed necessary. The survey found that 46% believe that tariffs "are harmful to the economy and consumers, with no real long-term benefits," while 39% were willing to weather the storm, saying that "they may cause short-term economic pain, but they lead to long-term economic growth."

The pain is already being felt, and it's not just big-ticket items that are getting much pricier. Everything from sugar, tea, coffee and cars are set to increase in cost. And here's the kicker: On average, U.S. consumers should expect to spend about $3,800 more this year because of the hikes. That's according to Ernie Tedeschi, who is the director of economics at the Budget Lab at Yale.

"Consumers are currently seeing moderate increases in the prices of goods as the inflation outlook remains uncertain due in large part to the tariff situation," Lupo tells Bored Panda. "But it’s inflation, not tariffs specifically, that Americans are most worried about, according to WalletHub research. As goods become more expensive due to tariffs, credit card debt and financial instability will continue to be growing issues for families."

Tedeschi told Business Insider that the cost of clothing items is expected to increase by about 8%, while pantry staples like sugar and coffee could go up in price by about 1.3%. Your fresh fruit and veg is also about to get more expensive, with Tedeschi predicting a 2.2% increase. But fortunately, it doesn't apply to all fresh produce.

The United States-Mexico-Canada Agreement means that most agricultural products, textiles, apparel, and other goods coming from Mexico for example have "zero-tariff treatment." But, if you get certain fruits from afar, you might have to either go without or be willing to splurge.