Small and Medium-sized Businesses’ Expectations Concerning Tariffs, Costs, and Prices

Philippe Andrade, Alexander Dietrich, John Leer, Raphael Schoenle, Jenny Tang and Egon Zakrajšek ()

No 25-7, Current Policy Perspectives from Federal Reserve Bank of Boston

Abstract: Small and medium-sized businesses (SMBs) constitute an integral part of the US economy, driving job creation and economic growth. They account for approximately half of private-sector employment and play a crucial role in fostering competition, all the while supporting local communities. This brief uses a new survey of SMB decision-makers to study how US tariff changes could affect businesses’ costs and prices.

Keywords: business expectations; surveys; tariffs; cost-price pass-through; inflation (search for similar items in EconPapers)
JEL-codes: C83 E31 F13 F14 F40 (search for similar items in EconPapers)
Pages: 8
Date: 2025-04-10
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