US EditionTrump tariffs would cost US employers $82.3B: JPMorganChase Institute
UNITED STATES, JUL 2 – JPMorganChase Institute reports tariffs under former President Trump cost midsize U.S. companies $82.3 billion, averaging $2,080 per employee and 3.1% of payroll.
- The JPMorganChase Institute reported that U.S. businesses with yearly incomes ranging from $10 million up to $1 billion are expected to incur $82.3 billion in direct expenses due to tariffs imposed under President Trump's administration.
- This cost arises from import duties introduced following an April 2 tariff plan that could have increased expenses to $187.6 billion, with a July 9 deadline set for finalizing duty schedules affecting products from numerous countries.
- The analysis highlights that retail and wholesale sectors are particularly vulnerable, while tariffs may encourage some domestic manufacturers to strengthen supplier roles amid low profit margins.
- The $82.3 billion equals about $2,080 per employee or 3.1% of payroll, and Treasury Secretary Scott Bessent said career officials call these trade deals "like they've never seen before."
- Companies might offset costs via price increases or workforce changes while the administration plans to prioritize the recently passed tax cuts package and continue trade discussions next week.
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128 Articles
Tariffs would cost US employers $82.3B
WASHINGTON — An analysis finds a critical group of U.S. employers would face a direct cost of $82.3 billion from President Donald Trump's current tariff plans, a sum that could potentially be managed through price hikes, layoffs, hiring freezes or…
·Tulsa, United States
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The president has indicated that he will fix tariff rates due to the logistical challenge of negotiating with so many nations.
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North Platte Nebraska's Newspaper+2 Reposted by 2 other sources
Tariffs would cost US employers $82.3 billion
WASHINGTON — An analysis finds a critical group of U.S. employers would face a direct cost of $82.3 billion from President Donald Trump's current tariff plans, a sum that could potentially be managed through price hikes, layoffs, hiring freezes or…
·North Platte, United States
Read Full Article
Coverage Details
Total News Sources128
Leaning Left23Leaning Right12Center59Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 24%
C 63%
13%
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