OP/ED: Why Trump’s tariff policy will disproportionately hurt women

As markets plunge and the effects of Trump’s sweeping tariff policy come into focus, one reality has been mostly overlooked: Women will suffer most.

While tariffs will impact every American, they pose a particular threat the economic wellbeing of women and will compound the economic inequities and challenges women already face. The so called “pink tariff” is not some cute shade of nail polish. It’s an unjust reality that women pay more for the products and services they buy and will be the most hurt from this new economic reality.

Pink Tariffs, also known as the Pink Tax, refers to the elevated prices women pay for products and services marketed to them. Personal care products, clothing, toys and even basic services like dry cleaning all already cost women more for many reasons — some of it has to do with the volume of goods produced but often it’s because gendered marketing and price discrimination. Deodorant and razors are a great example — men’s products are virtually identical to women’s but the “pink” product, the women’s product costs significantly more. Women also need more basic products including feminine hygiene products which means their average basic costs of necessities is higher. Research from the Progressive Policy Institute found that disparities like this already cost women 3 percent more than men on the most common items they buy.

Women represent a disproportionate share of Americans living in poverty. As of 2023 they were 54.6 percent  of the American poor. And those rates are even higher for Black women, Latinas and Native women. What’s more, for unmarried women those rates are worse across the board — nearly one in three households headed by single women are in poverty.

The Pink Tax, combined with new Trump tariffs will without a doubt exacerbate income inequality and economic hardship experienced by women.

Women simply cannot afford the baseline 10 percent tax on imports imposed under Trump’s new order — it will worsen an already heavy economic burden carried by women. The new tariff policy is expected to raise costs for the average American household by as much as $3,800. For women in poverty this would be completely untenable and will create a ripple effect impacting children and the country for years to come.

And tariffs are not the only trend threatening to set women back economically. Federal government layoffs enacted by Trump and Elon Musk since the start of the administration have certainly affected tens of thousands of women. Given that women constituted approximately 45 percent of the federal workforce as of fiscal year 2023, they have obviously been a substantial number of those affected. Unfortunately, we have to speculate because specific data detailing the number or percentage of women who have been terminated has not been released.

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Other Trump policies spell economic trouble for women. Since taking office, the administration has closed civil rights enforcement offices in the Federal government including the EEOC that protect women from workplace and job discrimination. Who will enforce provisions of the newly passed Pregnant Workers Fairness act for example, that prevents employers from firing pregnant workers and requires them to make reasonable accommodations so pregnant women can work? That has economic implications too — if women have no recourse if they are illegally harassed or fired, that too compounds the economic burdens they bear.

Finally, as markets continue to tumble, it’s important to recognize that women are the most at risk in terms of long-term retirement security. Many Americans are seeing the value of their 401ks evaporate but women typically have significantly less money in their 401(k) retirement accounts compared to men to begin with. According to a 2023 Bank of America report, men’s average 401(k) account balances are approximately 50 percent higher than women’s. That’s because Women often earn less than men, which leads to lower contributions to retirement accounts, they are more likely to take breaks from the workforce for caregiving responsibilities, resulting in fewer years of contributions and growth and women tend to contribute at lower rates. The median contribution for women is about 43 percent less than that of men. 

None of this is good news. As the world reacts to Trump’s drastic and sweeping economic policy actions tens of millions will be affected. But the impact of those policies will not be the same. Pink tariffs, layoffs and 401k losses all spell trouble for American women. It’s a harsh and unacceptable reality more people should understand.