Donald_Trump's Tariffs Cost US Employers $82.3B

An analysis by the JPMorgan Chase Institute reveals that Donald Trump's current tariff plans will impose a direct cost of $82.3 billion on a critical group of US employers, particularly those with annual revenues between $10 million and $1 billion. These businesses, heavily reliant on imports from countries like China, India, and Thailand, may resort to price hikes, layoffs, hiring freezes, or reduced profit margins to manage these costs. The findings contradict Donald Trump's claims that foreign manufacturers would absorb the tariff costs. While large companies like Amazon (company), Costco, Walmart, and Williams Sonoma have delayed the impact by building inventories, the July 9 deadline for setting formal tariff rates looms. Higher rates apply to China, Mexico, and Canada, with separate 50% tariffs on steel and aluminum. The United States — Federal Reserve Bank of Atlanta and Goldman Sachs anticipate that companies will pass on a significant portion of these costs to consumers, potentially leading to increased inflation. Donald Trump has also engaged in various trade negotiations, signing a framework with the United Kingdom and announcing a deal with Vietnam, while threatening Japan with more tariffs.