Study finds tariffs to hit middle-, lower-income families hardest
“‘If you think of the basket of goods that a lower-income household consumes, more of that will be burdened by tariffs and a larger share of their income goes toward that consumption,’ said Erica York, the author of the report. She calculated that lower- or middle-class families will see an income drop equivalent to one-third of 1 percent — a tenth of a percent more than the top 1 percent of earners.”