Section 301 tariffs could add hundreds of dollars in costs to U.S. households

U.S. households may face hundreds of dollars in additional costs as the administration moves to reintroduce tariffs. Treasury Secretary Scott Bessent indicated that tariffs could return to previous levels by July. This implementation will use Section 301 of the Trade Act of 1974, following a Supreme Court ruling that blocked the use of emergency powers for imposing tariffs. Section 301 tariffs increase costs for both imported and domestic goods, which hits lower-income households harder. These tariffs add hundreds of dollars in costs per U.S. household.