One Year of Tariffs: U.S. Companies Support Shock, but Inflation Threatens

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One year after Donald Trump re-launched the trade war in 2025, it is above all the American companies that are absorbing the cost of tariffs, while legal and logistical uncertainty pushes global trade. The conclusion is from Coface's latest report, which warns of a slower, longer and potentially more inflationary phase if costs begin to be transferred to the consumer. The study underlines that since the White House re-emerged trade barriers in 2…