JPMorgan predicts President Trump's tariffs will lead to some trade deals but also a significant rise in import duties, estimating an effective tax rate of 10-20%. This increase, while slowing economic growth and potentially increasing unemployment and inflation, is predicted to narrowly avoid a recession. JPMorgan recommends structured notes for income generation in a volatile market and diversified hedge funds to exploit market mispricings and offer downside protection.

Prepared by Christopher Adams and reviewed by editorial team.