President Donald Trump's trade policies seem to have hurt consumers and families in the United States, as have farmers and the US and global economies alike.

A report released Wednesday by the Congressional Budget Office said that the Trump administration's tariffs amid its ongoing trade disputes with many countries around the world would reduce the average American family's income by $ 580 by 2020.

By 2020, changes in US trade policies since January 2018 will reduce US real GDP by about 0.3 percent, and tariffs imposed as part of these trade policies will reduce real family income, according to the official Xinhua news agency. The average American is about 0.4%.

The office also predicted that tariffs, which do not include the 10 percent of the $ 300 billion worth of Chinese goods scheduled to come into force in September and December, would reduce real exports from the United States by 1.7 percent by 2020, leading to a 2.6% drop in US imports.

A study by economists at the US Federal Reserve, Princeton University and Columbia University showed that the US economy and consumers are the biggest losers from the Trump administration's trade war with its major trading partners.

According to expert calculations until the end of 2018, "tariffs cost consumers and imported US companies $ 3 billion per month, and an additional $ 1.4 billion per month due to associated economic losses."

The Trump administration also acknowledges that US farmers are "victims" of Trump's trade war with China, the US Secretary of Agriculture noted in June.

Also on Wednesday, experts at the International Monetary Fund said that "US importers and consumers bear the burden of surcharges imposed by the Trump administration on many US imports."

The IMF also said the exchange of increased tariffs on trade between countries is unlikely to reduce trade imbalances.

At the same time, increased tariffs are likely to hurt domestic and global growth by limiting corporate confidence, investment mobility and disruption of the global supply network, with rising costs for producers and consumers.