`Phase 3' Tariffs Could Raise Cost to Households to $1,550, JPMorgan Says

The video discusses the global GDP growth and the increasing risk of recession, which has risen from 25% to 40% due to business sentiment and labor market factors. It highlights FedEx's concerns about the global economic slowdown and the challenges businesses face in compliance and investment planning. The impact of tariffs on consumers and business confidence is also examined, with potential scenarios that could affect global capital expenditure.

What is the predicted cost increase for households if phase three tariffs are implemented?

What impact do the phase three tariffs have on consumers and business confidence according to the text?