JPMorgan raises risk of recession to 60% as Trump tariff turmoil upends markets worldwide
1. JPMorgan raised the US recession probability to 60% due to tariff plans. 2. Tariffs may raise US average tax rates significantly, impacting economic growth. 3. Other firms also predict recession risks if tariffs persist. 4. Stock markets have fallen amid increasing fears of economic downturn. 5. Trump's tariffs aim to target unfair trade practices but may harm growth.