摩根大通研究所报告显示：关税严重冲击美国中型企业

Group 1 - The core viewpoint of the report indicates that U.S. medium-sized enterprises are significantly impacted by tariffs, with monthly tariff expenditures tripling since early 2025 [1][3] - The report shows that from April 2025, monthly tariff expenditures for U.S. medium-sized enterprises sharply increased, reaching approximately three times the levels before April by August, followed by a period of stabilization at high levels [3] - Overall, tariffs account for about 10% of the international expenditures of all U.S. medium-sized enterprises, while for those paying tariffs, this proportion rises to around 15% [3] Group 2 - The report concludes that U.S. businesses and consumers bear 96% of the tariff costs, with 43% of these costs passed on to consumer prices as of last October, indicating that most costs are shouldered by businesses [5] - A study from the New York Federal Reserve reveals that approximately 90% of the additional costs from tariffs imposed by the U.S. government in 2025 are borne by American consumers and businesses, contradicting previous claims that foreign exporters would absorb these costs [5]