Businesses Expect to Pass Along 50% of Tariffs, Fed Survey Finds

June 5, 2025, 7:06 PM UTC

Business expect to pass through roughly half of tariff-related expenses to US consumers still reeling from the pandemic-era inflation surge, according to a new survey from the Federal Reserve Bank of Atlanta.

The findings show that many businesses anticipate they’ll need to take a different approach from 2018, when they passed through nearly all tariff-related costs to their customers, Atlanta Fed researchers wrote in a blog post published Thursday.

“Our results suggest many firms believe their customers are price-sensitive enough this time around (perhaps owing to the recent inflationary surge that isn’t too far in the rearview mirror) that ...

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