US EditionTrump tariffs would cost US employers $82.3B: JPMorganChase Institute
- 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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90 Articles
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