J.P. Morgan: The average tariff rate in the United States will increase from 13.4% to 14.6%.

JPMorgan economists have released a new estimate of the average tariff rate, which covers the tariffs announced by President Trump this week on 14 countries to be implemented on August 1st. JPMorgan's Michael Feroli and Abiel Reinhart estimate that after these tariffs take effect, the average tariff rate in the United States will increase from 13.4% to 14.6%.