JPMorgan: Trump’s New Tariffs Would Raise the Average U.S. Tariff Rate to 14.6%

BlockBeats News, July 9 — JPMorgan economists Michael Feroli and Abel Reinhart have released a new research report estimating that, following the tariffs announced by Trump this week—which will be imposed on 14 countries starting August 1—the average U.S. tariff rate will rise from the previous 13.4% to 14.6%. According to an independent analysis by Commerzbank, the new average tariff rate could exceed 18%. In addition, JPMorgan noted that if Trump proceeds with other potential trade measures, such as reinstating reciprocal tariffs proposed in April against other countries, introducing new tariffs on copper products, or imposing additional tariffs on BRICS nations, the overall average U.S. tariff rate could increase by as much as 6 percentage points further. (Jin10)