Overview

• Rep. Jamie Raskin and Sen. Chuck Schumer have introduced the Truth in Tariffs Act, requiring retailers to display how much tariffs contribute to product prices.
• President Trump’s recent 10% baseline tariff on imports has led to higher consumer costs, with additional levies targeting specific goods and countries like China.
• Amazon considered displaying tariff-related costs but ultimately rejected the idea after White House criticism, calling it a 'hostile and political act.'
• A new poll shows 61% of Americans support businesses itemizing tariff costs, with 78% believing Trump’s tariffs increase prices.
• Some small businesses, such as Jared Fisher’s bike shops, have begun voluntarily labeling tariff costs on receipts to maintain customer trust.