特朗朗普关税埋雷，数万亿美元成本压垮企业，损失超1.2万亿美元

Core Insights - The "reciprocal tariff" policy promoted by the Trump administration is significantly increasing costs for the U.S. economy, with global companies expected to incur an additional loss of $1.2 trillion this year, of which $592 billion will be directly passed on to American consumers [1][11]. Group 1: Economic Impact - The S&P Global report indicates that the tariff policy has led to a contraction in corporate profit margins by 0.64%, resulting in a profit gap of $907 billion [3]. - Retail giants like Walmart and Amazon are particularly affected, having to pass on two-thirds of their profit losses to consumers [3]. - Small public companies and private equity-backed firms are expected to bear an additional cost of $278 billion, with the S&P warning that the $1.2 trillion cost is merely a lower limit [5]. Group 2: Consumer Effects - Consumers are facing a significant reduction in purchasing power, with the situation described as "spending more but getting less" due to rising costs and declining output [5]. - Low-income households are disproportionately affected, losing an average of $2,600 annually due to tariffs, which far exceeds any tax relief they may receive [8]. - High-income families, on the other hand, are less impacted and continue to spend on luxury goods, highlighting a growing disparity in economic pressure among different income groups [8]. Group 3: Manufacturing and Employment - A survey indicates that 65% of companies believe that the cost of building factories in the U.S. is currently more than double, with 57% explicitly refusing to relocate production back to the U.S. [9]. - Labor shortages and outdated infrastructure are major barriers to manufacturing return, with 81% of interested companies preferring to use robots over hiring workers [9]. - Trade retaliation from partners, including increased tariffs from China and the EU, exacerbates the challenges faced by U.S. companies [9]. Group 4: Policy Repercussions - The Trump administration has quietly exempted several products from tariffs, likely in preparation for potential legal challenges, creating uncertainty for businesses [11]. - The long-promised benefits of the tariff policy have yet to materialize, with supply chain relocation plans hindered and ongoing trade retaliation measures [11]. - The overall trade protectionism experiment is revealing its detrimental effects, raising urgent questions about balancing trade benefits with the cost of living for citizens [11].