Federal Reserve Finds Wide Tariff Anxiety

Justin Sullivan/Bloomberg News

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U.S. companies showed widespread concerns about tariff and trade policy uncertainty, but generally reported minimal impact thus far, according to a regional survey from the Federal Reserve.

The anxiety about protectionism was broad geographically and across industries as pricing difficulties, labor shortages and supply-chain disruptions were cited in the Fed’s so-called Beige Book, released Sept. 5. The ability to pass on higher costs was varied, according to anecdotal examples before the U.S. put a 15% tariff on $112 billion in Chinese imports Sept. 1.

“District reports on the impact of tariffs on pricing were mixed, with some Districts anticipating that the effects would not be felt for a few months,” the report stated, based on information collected in about a six-week period to Aug. 23.


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