Analysis shows Trump's tariffs would cost US employers $82.3 billion
WASHINGTON (AP) — 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 lower profit margins.
The analysis by the JPMorganChase Institute is among the first to measure the direct costs created by the import taxes on businesses with $10 million to $1 billion in annual revenue, a category including roughly a third of private-sector U.S. workers. These companies are more dependent than other businesses on imports from China, India and Thailand — and the retail and wholesale sectors would be especially vulnerable to the import taxes being levied by the Republican president.
The findings show clear trade-offs from Trump’s import taxes, contradicting his claims foreign manufacturers would absorb the costs of the tariffs instead of U.S. companies that rely on imports. While the tariffs launched under Trump have yet to boost overall inflation, large companies such as Amazon, Costco, Walmart and Williams-Sonoma delayed the potential reckoning by building up their inventories before the taxes could be imposed.
More at
https://apnews.com/article/trump-tariffs-analysis-employers-consumers-prices-6fef729ff39ce24fcd46bbb60134b032