Global Economic Impact Regardless of who the agreement is with, a successful agreement may alleviate global trade tensions in the short term, stabilizing supply chains and market confidence. The Yale Budget Lab predicts that Trump's tariff policy could result in an annual increase of about $4,700 in living costs for the average American household, with clothing prices rising over 60%. If the agreement can reduce some tariffs, it will ease the burden on consumers. However, if the agreement is only targeted at specific countries or industries, the imbalance in global supply chains may worsen, leaving Asian exporters still facing pressure.