
Tariff costs to companies this year to hit $1.2 trillion, with consumers taking most of the hit, S&P says
A shopper walks past shelves of cooking oil for sale at a supermarket in Beijing on October 15, 2025. Pedro Pardo | Afp | Getty Images President Donald Trump‘s tariffs will cost global businesses upward of $1.2 trillion in 2025, with most of the cost being passed onto consumers, according to a new analysis from…