Friend,

I’ve been reflecting on President Trump’s inaugural address over the last few days, and one of the things that stood out was his tough talk on trade issues. But then again, it’s easy to sound tough when someone else is bearing the consequences.

Here’s the hard truth: you and your family will pay the cost of Trump’s protectionist trade policies. His tariffs are likely to increase the cost of furniture, home goods, clothing, gasoline, and electronics. That’s because time and time again, importers have passed along the cost of tariffs to consumers. Thanks to Trump’s tariffs, the average U.S. household will pay $2,600 more per year.

Experts predict that the price of laptops and tablets could increase by 45%. Smartphones are projected to become $213 more expensive. And since the United States relies on Canada, Mexico, and China for the importation of prescription drugs and medical devices, the already high prices of medication and equipment will continue to climb.

Higher costs for consumers aren’t the only reason to oppose Trump’s tariffs. Workers will pay the price of these policies as well. His proposed 25% tariff on Canada and Mexico could decimate the American auto industry, for example. With 16% of all auto parts coming from Mexico (and plenty of steel from Canada), Trump’s tariffs are sure to increase the cost of American-made cars, decrease our competitiveness in the global marketplace, and prompt layoffs or furloughs across the auto industry.

Tariffs when deployed strategically, should advance the interests of America's workers and consumers. Unfortunately, Trump’s blunt approach will help no one. Instead, his tough talk will cause you and your family to pay higher prices at the pump, the cash register, and the car dealership.

— Jim