Tariffs paid by midsized firms tripled: reportHIGHER COSTS: Midsized US companies have to absorb the new expense by passing it on to buyers, hiring fewer workers or accepting lower profitsAP, WASHINGTONTariffs paid by midsized US businesses tripled over the past year, new research tied to one of the US’ leading banks showed on Thursday — more evidence that US President Donald Trump’s push to charge higher taxes on imports is causing economic disruption. Trump defended his tariffs during a trip to Georgia on Thursday while touring Coosa Steel, a company involved in steel processing and distribution. “The tariffs are the greatest thing to happen to this country,” Trump said. However, trade data published on Thursday by the US Census Bureau showed that the trade deficit climbed last year by US$25.5 billion to US$1.24 trillion. He said that tariffs on some items such as steel, kitchen cabinets and bathroom vanities were in the national security interest of the country.

Source: Taipei Times February 20, 2026 16:49 UTC