US dollar banknotes are seen in this illustration taken May 4, 2025. [Photo/Agencies] Tariffs would hurt lower income households with a minimal impact on the top one percent of earners in 2026, a recent analysis released by the Institute on Taxation and Economic Policy has shown. Taxes imposed by US President Donald Trump for the poorest 20% of householdswould rise about four times morethan those in the top 1% in 2026, according to the analysis. Economists examine the economic effects of policies in relation to household income as it demonstrates how their disposable income and overall quality of life are influenced. Another analysis by the Yale Budget Lab illustrates that US' tariffs policy is regressive, implying it will hurt those at the bottom than the top.