The new tariffs imposed by the United States are expected to significantly impact American households, with average bills likely to rise by around USD 2,400 in the short term due to inflation driven by these tariffs, according to a research report by the State Bank of India (SBI).

The report, however, says that the burden of these increased household expenses will not be evenly distributed. Low-income households in the US may see losses of around USD 1,300, which is nearly three times the relative burden compared to wealthier families.

On the other hand, high-income households could face losses of up to USD 5,000, though the overall impact on their financial stability would be less severe.