US firms face up to $71bn of extra costs from tariffs – study
Authors say additional complexities mean findings are likely to be on the conservative end of costs
The US administration’s tariffs could mean the country’s manufacturing sector facing between $39 billion and $71 billion of additional annual compliance costs, according to research from the Federal Reserve.
The study, published on July 18, says tariffs are not the only costs associated with trade policy changes. There are also document provision costs and reporting obligation costs, among others.
The authors, Spencer Bowdle and Fariha Kamal, say that even without this year’s tariffs
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