The cost of Trump's tariffs

Tariffs imposed by President Trump have so far cost U.S. corporations $34 billion, according to data compiled by Tariffs Hurt the Heartland — a coalition of businesses and trade groups that oppose the tariffs — provided first to Axios…

By the numbers: The $34 billion hit that U.S. companies have taken from the Trump tariffs doesn’t include the 15% tax on $112 billion worth of Chinese imports — including clothes and shoes — that went into effect on Sept. 1.

Next week: U.S. tariffs on $250 billion worth of Chinese goods are scheduled to rise to 30% from 25%.

While consumer confidence remains at elevated levels, Tariffs Hurt the Heartland points to Wall Street research that projects households would see costs rise by $1,000 after the most recent round of tariffs takes effect — offsetting the benefit consumers got from the tax cuts.