As a new round of tariffs takes effect, Governor Kathy Hochul is calling out the Trump administration for what she says is a costly blow to New Yorkers. On the August 7 tariff deadline, Hochul warned that the trade policies could cost households across the state an extra $4,200 in federal taxes.
New data from the state shows consumers and businesses may end up paying nearly $33 billion more to keep buying foreign goods. Tariff-driven price hikes are expected across essential items, from laptops to clothing, compounding what Hochul called “a national affordability crisis.”
“In New York, the cost of living is too damn high,” Hochul said. “Trump’s tariffs are only spurring more fiscal chaos and uncertainty.”
The analysis highlights that New York imported $160 billion in goods last year, with new tariffs averaging around 21%. That includes $12.5 billion in electronics and $10.8 billion in apparel. A Yale study cited by the state estimates electronics prices will rise more than 18%, and clothing more than 37%.
State leaders joined Hochul in criticizing the impact.
“While we have worked tirelessly to make New York more affordable, our progress has been undermined by the reckless tariffs enacted by the Trump administration,” said Senate Majority Leader Andrea Stewart-Cousins. She called on New York Republicans to oppose what she described as a “disastrous economic agenda.”
Senator Rachel May said the tariffs are squeezing both households and small businesses, which are struggling with rising inventory costs. Senator Sean M. Ryan added that while the state budget worked to lower living costs, “Trump’s tariffs are raising costs here in New York and nationwide.”
Assemblymember Andrew Hevesi put it bluntly: “Passing tariff expenses onto New Yorkers at the rate of $4,200 per household is not economic development, and it shows where the President’s priorities lie.”
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