Tariffs paid by midsize US companies tripled last year, a JPMorganChase Institute study shows

Associated Press (AP)EN 5 min read 100% complete by By JOSH BOAKFebruary 19, 2026 at 09:23 PM

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long article 5 min

A JPMorganChase Institute study released Thursday revealed that tariffs paid by midsize U.S. companies tripled over the past year. The research indicates that these increased costs, stemming from Trump-era trade policies, are largely borne by American businesses. These companies, employing 48 million people, are absorbing the expenses by raising prices, reducing staff, or accepting lower profits. The study suggests a potential shift away from trade with China towards other Asian regions. This analysis contradicts claims that foreign entities pay the tariffs, adding to a growing body of evidence that the costs are impacting U.S. businesses. The report focused on mid-sized firms, which may lack the resources to offset tariff costs like larger corporations.

Key Entities & Roles

Key Player Opposition Context

Rome, Ga. 30% Coosa Steel Corporation 40% Chi Mac 40% China 50% United States ×470% Donald Trump ×380% JPMorganChase Institute ×590%

Keywords

tariffs 100% midsize us companies 90% jpmorganchase institute 80% trump-era tariffs 70% economic disruption 60% import taxes 50% international trade 40%