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JPMorgan: Trump's New Tariffs to Raise US Average Tariff Rate to 14.6%
Summary: According to sources, JPMorgan economists Michael Feroli and Abel Reinhardt have released a new research report estimating that with the new tariffs announced by Trump this week on 14 countries, set to take effect on August 1, the average tariff rate in the US will increase from the previous 13.4% to 14.6%. Additionally, independent analysis ...
According to sources, JPMorgan economists Michael Feroli and Abel Reinhardt have released a new research report estimating that with the new tariffs announced by Trump this week on 14 countries, set to take effect on August 1, the average tariff rate in the US will increase from the previous 13.4% to 14.6%. Additionally, independent analysis from Deutsche Bank suggests the new average tariff rate could exceed 18%. Furthermore, JPMorgan points out that if Trump continues to push for other potential trade measures, such as reinstating the retaliatory tariffs proposed in April against other countries, adding tariffs on copper products, or imposing tariffs on BRICS countries, the overall average tariff rate in the US could increase by up to an additional 6 percentage points.
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Link: JPMorgan: Trump's New Tariffs to Raise US Average Tariff Rate to 14.6% [Copy]
