JPMorgan: Trump's new tariffs will raise the average tax rate in the U.S. to 14.6%

[JPMorgan: Trump's new tariffs will raise the average tax rate in the U.S. to 14.6%] JPMorgan economists Michael Feroli and Abel Reinhart released the latest research report, estimating that after incorporating the tariffs announced by Trump this week, which will take effect on August 1 for 14 countries, the average tariff rate in the U.S. will rise from the previous 13.4% to 14.6%. According to independent analysis from Deutsche Bank, the new average tariff rate could exceed 18%. Furthermore, JPMorgan also pointed out that if Trump continues to push for other potential trade measures, such as restoring the reciprocal tariffs proposed in April against other countries, imposing new tariffs on copper products, or increasing tariffs on BRICS countries, the overall average tariff rate in the U.S. could further rise by up to 6 percentage points.