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Trump's Tariffs Cost Employers $82.3 Billion, Says Treasury

7/7/2025

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Bessent Addresses Tariff Costs

Treasury Secretary Scott Bessent revealed that President Trump's tariffs have triggered a staggering $82.3 billion cost for U.S. employers, according to a JPMorgan Chase Institute analysis. While public anxiety mounts, Bessent insists the effects are overstated, urging a distinction between inflation and temporary price hikes.

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Trump's Tariffs Impact Wallets

President Trump's tariffs are hitting American wallets hard, especially in housing and automotive markets. The National Association of Home Builders warns that these tariffs could inflate new home prices by a staggering $10,900. With rising costs on steel, aluminum, and imports from Canada and China, consumers face mounting uncertainty and financial strain.

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Bessent Addresses Tariff Costs

Treasury Secretary Scott Bessent revealed that President Trump's tariffs have triggered a staggering $82.3 billion cost for U.S. employers, according to a JPMorgan Chase Institute analysis. While public anxiety mounts, Bessent insists the effects are overstated, urging a distinction between inflation and temporary price hikes.

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