JPMorgan Chase: Trump's New Tariffs Would Raise Average U.S. Tax Rate to 14.6%
Powered by ChatGPTOn July 9th, according to Jinshi Data, JPMorgan Chase economists Michael Feroli and Abel Reinhart released the latest research report, estimating that after including the tariffs announced by Trump this week, which will be levied on 14 countries on August 1st, the average U.S. tariff rate will increase from the previous 13.4% to 14.6%. According to an independent analysis by Commerzbank, the new average tariff rate may exceed 18%. In addition, JPMorgan Chase also pointed out that if Trump continues to advance other potential trade measures, such as restoring the reciprocal tariffs proposed in April for other countries, adding new tariffs on copper products, or imposing additional tariffs on BRICS countries, the overall average U.S. tariff rate may further increase by as much as 6 percentage points. [Deep Tide TechFlow]