U.S. Tariff Regime Affects All Industries, Particularly Midsize Companies
A JPMorganChase Institute report highlights that U.S. companies across all industries continue to face high tariff costs despite some decline in recent months. The institute's index of customs duty payments by midsize firms peaked at 314 in October 2025 and has since declined but remains more than double its pre-2025 level as of June 2026. The report notes that every industry saw increased tariffs after the Trump administration announced a broad tariff regime on April 2, 2025. Apparel manufacturing experienced one of the largest increases in tariff burden, rising from about 3.3% to 5.2%. Midsize companies are particularly vulnerable due to limited purchasing power and tighter profit margins compared to larger corporations. The U.S. government's monthly tariff revenue peaked at $34 billion but has since dropped to around $23.7 billion by June 2026, suggesting a slight decline in the pace of import activity or changes in pricing strategies among companies.
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Topics: JPMorgan report midsize companies tariffs trade policy