President-elect Donald Trump claims he can unilaterally impose sweeping tariffs on U.S. imports. The reality is more complicated, according to trade experts.

An analysis by the nonpartisan Peterson Institute for International Economics estimates Trump’s proposed tariffs would cost a typical U.S. household more than $2,600 a year. “High tariffs also imply a massive shifting of the tax burden from richer taxpayers toward lower-income Americans,” the report said.

It’s unlikely that tariffs can raise a meaningful amount of revenues that somehow shrink the federal deficit — that would have to come from spending cuts. Are tariffs a solution or a risky gambit? The new trade tariffs likely under “Trump 2.