Maine families feel tariff burden with higher costs

Maine families are facing higher costs due to tariffs, with consumer prices up more than 5% since January 2025. Yale's Budget Lab estimates tariffs will add $1,100 to the average family's costs over the next year. New cars now cost about $1,200 more, used cars $1,300 more, and construction materials are 15% more expensive, adding roughly $11,000 to the price of an average new home. Steel, copper, and aluminum prices have surged, impacting various industries and leading to job losses and project delays. Canadian tariffs and cross-border tensions further exacerbate the situation, affecting trade and tourism. The latest round of tariffs and Canada's retaliatory response, which took effect on September 8, 2026, will raise costs further on both sides of the border.

Read the full story at mecep.org.