**Trump's Return Could Skyrocket Prices on Everyday Items Due to Proposed Tariffs**

With Donald Trump's anticipated return to the White House, significant economic shifts are on the horizon, particularly concerning the costs of everyday goods. The president-elect has vowed to impose steep tariffs on foreign-made products, a move that could dramatically affect prices nationwide.

During his campaign, Trump promised a minimum 25% tariff on goods manufactured in Mexico, with potential increases up to 100%. Goods from China are targeted for a 60% tariff, while a general 20% tariff would apply to products made abroad. Roger Entner, an analyst from Recon Analytics, highlighted the long-term implications in a Forbes interview, noting, "We decided to make China our factory. It took decades to do that and it will take years if not a decade to undo that."

If Trump's tariff plans proceed, consumers can expect notable price increases on a wide range of imported items, from iPhones to clothing and household goods. Entner remarks that iPhones, largely assembled in China, may not be the biggest issue compared to other supply chains.

Trump believes these tariffs will incentivize companies to return manufacturing to the United States, potentially generating billions in revenue to help reduce the federal deficit. Historically, tariffs were used to encourage the purchase of domestically-produced goods over foreign ones. The Biden White House pointed out that tariffs have significantly decreased as a portion of federal receipts over the last century, with income taxes now playing a larger role in government revenue.

However, policy experts agree that the consumer usually bears the brunt of such costs. Ernie Tedeschi, Director of Economics at the Yale Budget Lab, stated, "Think of what your household will spend this month and think about if we instituted Trump tariffs and you bought the same basket of goods. The price of that basket would go up an average of 1.5 to 5.1%."

Tariffs tend to be regressive, disproportionately affecting those with lower incomes. Jonathan Gold of the National Retail Federation (NRF) emphasized that tariffs are essentially a tax paid by U.S. importers, which ultimately results in higher prices for consumers. The NRF's analysis warns of "dramatic" effects from such tariffs.

While the precise impact on individual items remains uncertain, especially with potential corporate lobbying for exceptions, Yale Budget Lab’s analysis suggests that all Americans will feel some financial strain. Even domestic companies may raise prices, capitalizing on the increased costs for their foreign competitors.