A new analysis highlighted by Syra​cuse​.com finds U.S. employers would face $82.3 billion in direct costs under former President Trump’s proposed tariffs—costs likely to be passed on through price hikes, layoffs, or hiring freezes.

Cato’s trade team, including Scott Lincicome, Colin Grabow and Clark Packard, has long warned that tariffs are taxes on Americans—not foreign governments. Read the full report here (https://​www​.syra​cuse​.com/​b​u​s​i​n​e​s​s​/​2​0​2​5​/​0​7​/​t​r​u​m​p​-​t​a​r​i​f​f​s​-​t​o​-​c​o​s​t​-​u​s​-​e​m​p​l​o​y​e​r​s​-​8​2​3​-​b​i​l​l​i​o​n​-​a​n​a​l​y​s​i​s​-​f​i​n​d​s.htm).

If you would like to speak with Grabow, Lincicome or Packard, please feel free to contact Emily Salamon at esalamon@​cato.​org