Since the Trump administration first announced fluctuating tariffs in early 2025, U.S.-based businesses have been scrambling to keep up — and try to keep prices as stable for customers as possible. In August, the U.S. Chamber of Commerce wrote in a blog post: “If American small businesses maintain the same level of imports at these new tariff rates, they will face a $202 billion annual tariff tax.”
A research report released in August by global investment bank and wealth management firm Goldman Sachs identified how the cost of tariffs is playing out in the supply chain. According to the New York-based bank, U.S. businesses are paying for 64% of tariff costs, while foreign exporters are taking on approximately 14%. U.S. consumers are also feeling sticker shock. The bank estimates consumers have already absorbed 22% of the costs of tariffs. That number is projected to rise to 67% in October.
Supply Chain Brain, which covers worldwide supply chain and logis-tics news, also noted that “Goldman calculates that tariffs have contributed roughly 0.20 percentage points to the Personal Consumption Expenditures price index, which the Federal Reserve uses to measure inflation for the price of consumer goods.” By the end of 2025, Goldman Sachs projects that the PCE inflation index will be 3.2% year over year, outpacing the Federal Reserve’s yearly target of 2%.
Salesforce’s latest Connected Shoppers Report reveals the state of retail:
| 75% | of retailers that say artificial intelligence agents, which perform tasks autonomously, will be essential to remain competitive. |
| 76% | of retailers plan to increase investment in AI within the next year. |
| 39% | of all shoppers already use AI for product discovery. |
| 63% | of Gen Z shoppers are comfortable with AI agents making purchases on their behalf. |
