Trump 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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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
Read Full ArticleThe president has indicated that he will fix tariff rates due to the logistical challenge of negotiating with so many nations.
·Los Angeles, United States
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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
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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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