Trump Brags His Tariffs Drove S&P 500, Dow To Record Highs, But New Report Says It Could Cost Households $1,300 More A Year

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The Dow Jones last week hit the 50,000 mark and President Donald Trump attributed the historic Wall Street milestone to his administration’s aggressive trade policies. The House on Wednesday passed a ...

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Report shows tariffs cost households $1,000 annually.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","SPYV":"SPDR Portfolio S&P 500 Value ETF","SH":"做空标普500-Proshares","IVOO":"Vanguard S&P Mid-Cap 400 ETF","IVV":"标普500ETF-iShares","UPRO":"三倍做多标普500ETF-ProShares",".SPX":"S&P 500 Index",".DJI":"道琼斯","HIBL":"Direxion Daily S&P 500 High Beta Bull 3X Shares","SPXL":"三倍做多标普500ETF-Direxion","SPLV":"Invesco S&P 500 Low Volatility ETF","SDS":"两倍做空标普500 ETF-ProShares","OEX":"标普100","BK4559":"巴菲特持仓","BK4504":"桥水持仓","SPDN":"Direxion Daily S&P 500 Bear 1X Shares","SPXS":"三倍做空标普500ETF-Direxion","BK4550":"红杉资本持仓","BK4588":"碎股","VOOV":"Vanguard S&P 500 Value ETF","SPXU":"三倍做空标普500ETF-ProShares","SPYM":"投资组合标普500指数ETF-SPDR","SSO":"2倍做多标普500ETF-ProShares","IVW":"标普500成长股指数ETF-iShares","GPIX":"GOLDMAN SACHS S&P 500 CORE PREMIUM INCOME ETF","OEF":"标普100指数ETF-iShares","XDTE":"Roundhill S&P 500 0DTE Covered Call Strategy ETF","BMAY":"Innovator U.S. Equity Buffer ETF - May","DJX":"1/100道琼斯","BK4581":"高盛持仓","VTI":"大盘指数ETF-Vanguard MSCI"},"translate_title":"特朗普吹嘘他的关税将标普500和道琼斯指数推至历史新高，但新报告称，这可能会让家庭每年多损失1,300美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ESmain":0.6,"SPXS":0.6,"HIBL":0.6,"SSO":0.6,"UPRO":0.6,"BMAY":0.6,"IVV":0.6,"SPDN":0.6,"GPIX":0.6,"OEF":0.6,"SPXU":0.6,"SPLV":0.6,"XDTE":0.6,"DJX":1.93,"SPXL":0.6,"SPYM":0.6,".DJI":1.93,"VOOV":0.6,"IVOO":0.6,"SDS":0.6,"VTI":0.6,"SH":0.6,"MESmain":0.6,".SPX":1.95,"OEX":0.6,"IVW":0.6,"SPYV":0.6},"content_text":"The Dow Jones last week hit the 50,000 mark and President Donald Trump attributed the historic Wall Street milestone to his administration’s aggressive trade policies.\nThe House on Wednesday passed a resolution aimed at repealing Trump's tariffs on Canada, with six Republicans joining the Democrats to vote in favor. Ahead of the vote, Trump took to Truth Social to warn Republican lawmakers who opposed his tariff strategy.\n\"Our Trade Deficit has been reduced by 78%, the Dow Jones has just hit 50,000, and the S&P, 7,000,\" Trump said in the post, talking about the tariffs.\n\"TARIFFS have given us Economic and National Security, and no Republican should be responsible for destroying this privilege,\" he added.\nWhen Dow hit the 50,000 mark on Friday, Trump, in a post on Truth Social, said, \"Record Stock Market, and National Security, driven by our Great TARIFFS,” adding that he was \"right about everything.\"\nAmid Trump's claims about the benefits of tariffs, a report by the Tax Foundation, seen by The Hill, revealed that Trump's tariffs are costing U.S. households an average of $1,000 annually. This figure is expected to rise to $1,300 per household this year if the tariffs persist.\nThe study indicates that while anticipated inflationary effects from these tariffs have not fully materialized, Americans continue to face significant financial burdens.\nResearch from the Kiel Institute for the World Economy highlights that U.S. importers and consumers bear 96% of the tariff burden, challenging claims that foreign countries pay these tariffs.\n\"The claim that foreign countries pay these tariffs is a myth,\" said Julian Hinz, research director at the German think tank.\nThe Tax Foundation warns that Trump’s tariffs could negate the benefits of recent tax cuts, particularly affecting lower-income filers.\nFederal Reserve Governor Stephen Miran criticized the narrative that Americans solely bear the tariff costs, suggesting that accounting treatments may obscure the true burden.\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nPhoto courtesy: Evan El-Amin on Shutterstock.com\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2610943570","isCrawlerRequest":true}