JPMorganChase Reveals the $82 Billion Cost of Trump's Tariff Policies

According to a recent analysis by the JPMorgan Chase Institute, a significant segment of American businesses could incur an astonishing cost of $82.3 billion due to Donald Trump’s proposed tariff strategies.

As reported by AP News on july 2, this study is one of the first to quantify the direct financial impact thes import taxes would have on companies generating between $10 million and $1 billion in annual revenue. This group represents about one-third of all private-sector employees in the U.S.Notably, these businesses are particularly reliant on imports from countries like China, India, and Thailand—making sectors such as retail and wholesale especially susceptible to these tariffs imposed by the Republican administration.

This analysis arrives just before Trump’s July 9 deadline for finalizing tariff rates on various goods from multiple nations.

In related news: IMF predicts Decline in Global Trade Ahead of Tariff implementation

The findings suggest that while companies might manage these costs through strategies like raising prices or implementing hiring freezes, they challenge Trump’s assertion that foreign manufacturers would bear the brunt of these tariffs. Although Trump’s tariffs haven’t yet led to a noticeable increase in overall inflation, major retailers such as Amazon and Walmart have preemptively stocked up their inventories to mitigate immediate impacts.

Moreover, AP highlighted emerging evidence indicating potential inflationary pressures ahead. Goldman Sachs has projected that firms may pass approximately 60% of their tariff-related expenses onto consumers. Additionally, a survey conducted by the Atlanta Federal Reserve revealed that businesses beleive they can transfer about half their costs from either a 10% or 25% tariff without significantly affecting consumer demand.