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Trump's tariffs to cost US consumers $1.2 trillion this year
Business
A fresh S&P Global report reveals that tariffs introduced by President Trump have pushed up company expenses by $1.2 trillion in 2025.
Most of these extra costs are now landing on shoppers, especially those in middle- and low-income brackets, who are already feeling the pinch from higher prices on everyday goods.
Retail giants' profits drop
S&P Global analyzed nearly 9,000 public companies and found that overall business expenses have jumped to $53 trillion this year.
Big retailers like Walmart, Amazon, and Costco are looking at a combined $907 billion drop in profits—about $592 billion of which is being passed straight to consumers.
Other factors like rising wages, energy prices, and big investments in AI are adding to the squeeze.