JPMorgan CEO Jamie Dimon warns about potential loss of U.S. credibility in ongoing trade war
From Yahoo Finance: 2025-04-24 13:38:00
JPMorgan Chase CEO Jamie Dimon issues a warning about the ongoing trade war, citing potential loss of U.S. credibility, recession, and market volatility. Dimon previously supported Trump’s policies but now expresses concerns about the trade war’s impact on the economy and international relations. He predicts tariffs could increase inflation by 0.5% this year.
Dimon emphasizes the importance of negotiating trade deals and changing regulations to free up capital during JPMorgan Chase’s first-quarter earnings call. The CEO also warns of possible recession due to tariffs and expresses concerns about the trade war’s effects on economic growth. JPMorgan revises its investment expectations in response to market volatility caused by tariffs.
Dimon stresses that national security should be the focus of tariffs, not a broader trade strategy. He expresses uncertainty about the outcome of the U.S.-China trade relations and warns about significant changes in global trade dynamics. The CEO emphasizes the importance of maintaining alliances with European nations and avoiding potential conflicts.
In an interview with the Financial Times, Dimon underscores the need for a strong U.S.-Europe relationship to prevent a decline in Western influence. He highlights the importance of fair trade practices and military alliances while addressing trade imbalances and defense spending. Dimon’s shifting stance reflects growing concerns about the impact of trade policies on global stability.