Tariffs, Gas Prices Intensify Affordability Challenges for Americans
New tariffs imposed by President Trump on imports from over 80 countries are adding financial pressure to American households. These tariffs range between 10% and 12.5%, potentially costing families around $1,100 annually according to Yale's Budget Lab. At the same time, gas prices have risen due to ongoing tensions in Iran, reaching a national average of $4.10 per gallon from $3.16 one year ago. According to a recent CNBC and SurveyMonkey survey, 53% of Americans report increased financial stress compared to last year, citing issues like credit card debt, medical bills, and lack of savings. Half also believe the U.S. economy will worsen in the coming year due to rising living costs and geopolitical instability. To help manage these challenges, experts recommend using a cash-back credit card such as Blue Cash Everyday® from American Express for everyday purchases like groceries and gas.
