JPMorgan Chase strategist: Trump's additional tariffs may raise concerns about risks to U.S. economic growth

Tai Hui, Chief Market Strategist for the Asia-Pacific region at JPMorgan Asset Management, believes that the additional tariffs imposed by Trump on his global partners could raise the average tariff rate in the United States to its highest level since the early 20th century. Tai stated that if these tariffs persist, they will have a substantial impact on inflation as U.S. manufacturing strives to increase capacity and supply chains pass costs onto consumers. He added that the scale of these tariffs has raised concerns about the risks to U.S. economic growth, as domestic consumers may cut back on spending due to rising prices of imported goods. He further noted that given the uncertainty of the comprehensive impact of the tariffs and potential retaliatory measures that trade partners may take, businesses may also delay capital expenditures