Jamie Dimon warns that Trump's tariffs could increase inflation and slow down the economy.

From CNBC: 2025-04-07 06:15:00

Jamie Dimon, CEO of JPMorgan Chase, warns that President Trump’s tariffs will likely increase prices on domestic and imported goods, slowing down the U.S. economy. The tariff policy announced on April 2 could lead to inflation on imported and domestic products, potentially impacting growth and causing a recession.

Dimon’s annual letter to shareholders addresses the uncertainties posed by Trump’s tariff policy, expressing concerns about its effects on global capital flows, corporate profits, and trading partners’ responses. Dimon notes that the U.S. economy was already weakening before the tariff announcement, with inflation likely to persist and interest rates potentially remaining high.

The JPMorgan CEO highlights the turbulence facing the economy, including geopolitical risks, tax reform, deregulation, and ongoing inflation. Dimon suggests that markets may be overly optimistic about a soft landing, hinting at potential further declines in stocks and credit spreads. He expresses uncertainty about the future economic outlook.



Read more at CNBC: Jamie Dimon says Trump tariffs will boost inflation, slow U.S. economy