Midsize U.S. businesses could face a $82.3 billion hit if President Trump’s tariff plan stands, creating potential for price hikes, layoffs, and hiring freezes, according to a new analysis

An analysis finds a critical group of U.S. employers would face a direct cost of $82.3 billion from Trump’s current tariff plans.

An analysis finds that a critical group of U.S. employers would face a direct cost of $82.3 billion from President Donald Trump’s current tariff plans, a sum that could be potentially managed

U S President Donald Trump has threatened to impose a "30% or 35%" tariff on Japan if a deal between the two countries is not reached before a deadline next week. That would be well above the 24% tariff Japan was hit with as part of Trump's so-called "Liberation Day" on 2 April, when he announced steep import duties on countries around the world.

Why It Matters Early on, Trump had expressed optimism about the potential for a quick trade deal with Japan, as he sought to renegotiate terms with dozens of countries during his reciprocal tariff pause.

President Donald Trump said he is not considering delaying his July 9 deadline for higher tariffs to resume and renewed his threat to cut off talks and impose duty rates on several nations, including Japan.