The Dictatorship

Tariffs paid by midsized US firms tripled last year, new study shows

Published

3 weeks ago

February 20, 2026

Tariffs paid by midsized US firms tripled last year, new study shows

WASHINGTON (AP) — Tariffs paid by midsize U.S. businesses tripled over the course of past year, new research tied to one of America’s leading banks showed on Thursday — more evidence that President Donald Trump ‘s push to charge higher taxes on imports is causing economic disruption.

The additional taxes have meant that companies that employ a combined 48 million people in the U.S. — the kinds of businesses that Trump had promised to revive — have had to find ways to absorb the new expenseby passing it along to customers in the form of higher prices, employing fewer workers or accepting lower profits.

“That’s a big change in their cost of doing business,” said Chi Mac, business research director of the JPMorganChase Institute, which published the analysis Thursday. “We also see some indications that they may be shifting away from transacting with China and maybe toward some other regions in Asia.”

The research does not say how the additional costs are flowing through the economy, but it indicates that tariffs are being paid by U.S. companies. The study is part of a growing body of economic analyses that counter the administration’s claims that foreigners pay the tariffs.

The JPMorganChase Institute report used payments data to look at businesses that might lack the pricing power of large multinational companies to offset tariffs, but may be small enough to quickly change supply chains to minimize exposure to the tax increases. The companies tended to have revenues between $10 million and $1 billion with fewer than 500 employees, a category known as “middle market.”

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

AP’s Lisa Dwyer reports on research showing Tariffs are hitting the bottom line.

The analysis suggests that the Trump administration’s goal of becoming less directly reliant on Chinese manufacturers has been occurring. Payments to China by these companies were 20% below their October 2024 levels, but it’s unclear whether that means China is simply routing its goods through other countries or if supply chains have moved.

The authors of the analysis emphasized in an interview that companies are still adjusting to the tariffs and said they plan to continue studying the issue.

White House spokesman Kush Desai called the analysis “pointless” and said it didn’t “change the fact that President Trump was right.” The study showed that U.S. companies are paying tariffs that the president had previously claimed would be paid by foreign entities.

Trump defended his tariffs during a trip to Georgia on Thursday while touring Coosa Steel, a company involved in steel processing and distribution. The president said he couldn’t believe the Supreme Court would soon decide on the legality of some of his tariffs, given his belief that the taxes were helping U.S. manufacturers.

“The tariffs are the greatest thing to happen to this country,” Trump said.

The president imposed a series of tariffs last year for the ostensible goal of reducing the U.S. trade imbalance with other countries, so that America was not longer importing more than it exports. But trade data published Thursday by the Census Bureau showed that the trade deficit climbed last year by $25.5 billion to $1.24 trillion. The president on Wednesday posted on social media that he expected there would be a trade surplus “during this year.”

The Trump administration has been adamant that the tariffs are a boon for the economy, businesses, and workers. Kevin Hassett, director of the White House National Economic Council, lashed out on Wednesday at research by the New York Federal Reserve showing that nearly 90% of the burden for Trump’s tariffs fell on U.S. companies and consumers.

“The paper is an embarrassment,” Hassett told CNBC. “It’s, I think, the worst paper I’ve ever seen in the history of the Federal Reserve system. The people associated with this paper should presumably be disciplined.”

Trump increased the average tariff rate to 13% from 2.6% last year, according to the New York Fed researchers. He declared that tariffs on some items such as steel, kitchen cabinets and bathroom vanities were in the national security interest of the country. He also declared an economic emergency to bypass Congress and impose a baseline tax on goods from much of the world in April 2025 at an event he called “Liberation Day.”

The high rates provoked a financial market panic, prompting Trump to walk back his rates and then engage in talks with multiple countries that led to a set of new trade frameworks. The Supreme Court is expected to rule soon on whether Trump surpassed his legal authority by declaring an economic emergency.

Trump was elected in 2024 on his promise to tame inflation, but his tariffs have contributed to voter frustration over affordability. While inflation has not spiked during Trump’s term thus far, hiring slowed sharply and a team of academic economists estimate that consumer prices were roughly 0.8 percentage points higher than they would otherwise be.

The Dictatorship

The Latest: US hits pro-government demonstration in Iran as war threatens global economy

Published

13 hours ago

March 14, 2026

Blue Light Newsroom

The Latest: US hits pro-government demonstration in Iran as war threatens global economy

The Dictatorship

Suspect in Temple Israel attack lost family in Israeli airstrikes

Published

23 hours ago

March 14, 2026

Blue Light Newsroom

Suspect in Temple Israel attack lost family in Israeli airstrikes

Mar. 13, 2026, 6:23 PM EDT

The suspect in an attack at a synagogue near Detroit lost several family members in an Israeli airstrike in Lebanon this month, according to the Islamic Institute of America in Dearborn and community leaders.

Ayman Mohamad Ghazali, a 41-year-old U.S. citizen originally from Lebanon, lost his two brothers and a niece and nephew in the strike on their home, according to those sources. Whether that played a role in the motive for the attack remains unclear, and Gov. Gretchen Whitmer deferred a question about it to the FBI on Friday, citing an ongoing investigation.

Authorities are looking at the possibility Ghazali may have had familial ties to Hezbollah in Lebanon, two law enforcement officials briefed on the investigation told MS NOW.

Ghazali died in the Thursday attack, in which authorities say he drove a car into Temple Israel in West Bloomfield, Michigan, injuring a security officer. Ghazali was a resident of Dearborn Heights, Mayor Mo Baydoun said in a Facebook post. Baydoun also said in that post that Ghazali “lost several members of his own family, including his niece and nephew, in an Israeli attack on their home in Lebanon” this month.

The Thursday attack in Michigan came as the U.S. and Israel wage a war with Iranwhich they launched on Feb. 28. Security around Jewish communities in places such as New York has been heightened since the conflict began.

Ghazali first came to the U.S. in 2011 on a spousal visa before being granted citizenship in 2016, a spokesperson for the Department of Homeland Security said.

In a phone interview with Fox host Brian Kilmeade, President Donald Trump appeared to blame former President Joe Biden for Ghazali’s entry into the country when asked about the Michigan attack and the deadly shooting at Old Dominion University in Michigan.

“They came in a lot through Biden, and they came in through other presidents, frankly, and it’s a disgrace,” Trump said.

Temple Israel describes itself as the country’s largest Jewish Reform congregation, and it also has an early childhood education center on site that more than 100 kids attend, Whitmer said. All children were safely evacuated following the attack, Oakland County Sheriff Michael Bouchard said.

“This is targeting babies who are Jewish,” Whitmer said. “That’s antisemitism at its absolute worst.”

The security guard who was injured was hospitalized but is expected to recover.

Whitmer on Friday thanked the synagogue’s security personnel, who she said “were selfless in their courage and they saved lives.”

Sen. Elissa Slotkin, D-Mich., added that if the synagogue’s private security, local law enforcement and first responders “had not all done their jobs almost perfectly, we would be talking about an immense tragedy here today with children gone.”

Andrew Bossone and Chris O’Leary contributed to this report.

Julianne McShane is a breaking news reporter for MS NOW who also covers the politics of abortion and reproductive rights. You can send her tips from a non-work device on Signal at jmcshane.19 or follow her on X or Bluesky.

Marc Santia is an investigative correspondent for MS NOW.

The Dictatorship

Missile strikes a helipad inside the U.S. Embassy compound in Baghdad, Iraqi security officials say

Published

24 hours ago

March 14, 2026

Blue Light Newsroom

Missile strikes a helipad inside the U.S. Embassy compound in Baghdad, Iraqi security officials say

Mar. 14, 2026, 12:25 AM EDT

BAGHDAD (AP) — A missile struck a helipad inside the U.S. Embassy compound in Baghdad, two Iraqi security officials said.

Associated Press footage showed a column of smoke rising Saturday morning over the embassy compound.

The sprawling embassy complex, one of the largest U.S. diplomatic facilities in the world, has been repeatedly targeted by rockets and drones fired by Iran-aligned militias.

There was no immediate comment from the U.S. Embassy in Baghdad. On Friday, the embassy renewed its Level 4 security alert for Iraq, warning that Iran and Iran-aligned militia groups have previously carried out attacks against U.S. citizens, interests and infrastructure, and “may continue to target them.”