JPMorgan CEO Dimon warns of recession and defaults due to Trump's tariffs

From Yahoo Finance: 2025-04-09 08:50:00

JPMorgan Chase CEO Jamie Dimon warns that Trump’s tariffs could trigger a recession and borrower defaults. He urges swift progress in trade negotiations to calm volatile markets. JPMorgan’s economists raise the risk of a U.S. and global recession to 60% after the trade barriers were unveiled. Dimon notes IPO cancellations and slowdowns in capital markets due to market volatility. Overseas clients are turning to local banks over U.S. lenders. China announces increased tariffs in retaliation to Trump’s measures. Dimon emphasizes the lasting negative impact of tariffs on the economy in his annual letter.



Read more at Yahoo Finance: JPMorgan CEO Dimon expects recession and defaults, urges quick trade talks in Fox Business interview