Characterizing the expressive power of the Transformer architecture is critical to understanding its capacity limits and scaling law. Recent works provide the circuit complexity bounds to Transformer-like architecture. On the other hand, position embedding has emerged as a crucial technique in modern large language models, offering superior performance in capturing positional information, which shows great performance for the long context scenario. In this work, we take a circuit complexity perspective and rigorously analyze Transformers augmented with widely adopted positional embeddings. We prove that, under standard complexity assumptions, such models remain incapable of efficiently solving canonical tasks such as arithmetic formula evaluation and Boolean formula value computation. Our results expose a fundamental expressivity limitation that persists despite the remarkable empirical success of positionally-enhanced Transformers. Beyond tightening known complexity bounds, our findings offer new theoretical insights for designing future architectures with provably stronger reasoning and compositional capabilities.