{"id":6358,"date":"2025-04-07T11:23:14","date_gmt":"2025-04-07T15:23:14","guid":{"rendered":"https:\/\/sharewatch.com\/wp\/2025\/04\/07\/jpmorgan-chase-ceo-jamie-dimon-warns-of-economic-pain-from-trumps-tariffs\/"},"modified":"2025-04-07T11:23:14","modified_gmt":"2025-04-07T15:23:14","slug":"jpmorgan-chase-ceo-jamie-dimon-warns-of-economic-pain-from-trumps-tariffs","status":"publish","type":"post","link":"https:\/\/sharewatch.com\/wp\/2025\/04\/07\/jpmorgan-chase-ceo-jamie-dimon-warns-of-economic-pain-from-trumps-tariffs\/","title":{"rendered":"JPMorgan Chase CEO Jamie Dimon Warns of Economic Pain From Trump\u2019s Tariffs"},"content":{"rendered":"
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President Trump\u2019s wave of tariffs threatens to bring both short-term economic pain, including lower growth, and long-term damage to America\u2019s standing and trade relationships around the world, the chief executive of Wall Street\u2019s biggest bank warned on Monday.<\/p>\n

\u201cThe recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession,\u201d Jamie Dimon, JPMorgan Chase\u2019s chief executive, wrote in his annual letter to shareholders.<\/p>\n

The warning by Mr. Dimon, one of Wall Street\u2019s most influential leaders, echoes the growing anxiety among corporate chiefs about how the tariffs will play out. Even those who had initially professed support for Mr. Trump\u2019s trade plans are becoming increasingly worried about the consequences.<\/p>\n

Even before Mr. Trump\u2019s tariff announcement last week, the U.S. economy had been showing signs of strain after years of healthy performance, Mr. Dimon wrote. Inflation was already a worry, Mr. Dimon said, pointing to a yawning fiscal deficit and the need for more infrastructure spending. And stock valuations remain well above historical averages, \u2014 even after the recent market sell-off.<\/p>\n<\/div>\n<\/aside>\n<\/div>\n

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The potential consequences of the trade fight could make things worse, the letter said. Those include other countries\u2019 efforts to fight back \u2014 as China has done by imposing 34 percent counter-levies \u2014 and a possible erosion of confidence among consumers and investors. Mr. Dimon also warned about the weakening of the American dollar\u2019s role as the global reserve currency.<\/p>\n

\u201cIf America, for whatever reason, becomes a less-attractive investment destination, the U.S. dollar and the economy could suffer if foreigners sold their U.S. assets,\u201d he wrote.<\/p>\n

JPMorgan\u2019s own economists have increasingly been saying that a recession is more likely this year, though Mr. Dimon did not personally take a position on those odds in his shareholder letter.<\/p>\n

While Mr. Dimon asserted that JPMorgan itself was strong enough to withstand the shocks that the levies posed \u2014 its traders have profited from previous whipsaws in the markets \u2014 the global economy may not be so fortunate. \u201cIt is not particularly good for the capital markets,\u201d Mr. Dimon wrote of the tariff-linked volatility.<\/p>\n

For now, Mr. Dimon wrote that he was hoping for a speedy resolution to the trade battles. \u201cThe quicker this issue is resolved, the better because some of the negative effects increase cumulatively over time and would be hard to reverse,\u201d he wrote.<\/p>\n<\/div>\n<\/aside>\n<\/div>\n

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The longer-term worry, Mr. Dimon said, is that Mr. Trump\u2019s fight could shred decades-old alliances that cemented the United States\u2019 primacy in the global order. The JPMorgan chief wrote that he was worried that America\u2019s trading partners might seek out deals with the likes of China, Iran or Russia in response to the tariffs.<\/p>\n

\u201cAmerica First is fine,\u201d Mr. Dimon wrote, referring to Mr. Trump\u2019s description of his policies \u2014 \u201cas long as it doesn\u2019t end up being America alone.\u201d<\/p>\n<\/div>\n<\/aside>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

President Trump\u2019s wave of tariffs threatens to bring both short-term economic pain, including lower growth, and long-term damage to America\u2019s standing and trade relationships around the world, the chief executive of Wall Street\u2019s biggest bank warned on Monday. \u201cThe recent tariffs will likely increase inflation and are causing many to consider a greater probability of […]<\/p>\n","protected":false},"author":1,"featured_media":6359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[19,21],"tags":[],"class_list":["post-6358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-market","entry","has-media"],"_links":{"self":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/6358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/comments?post=6358"}],"version-history":[{"count":0,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/6358\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media\/6359"}],"wp:attachment":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media?parent=6358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/categories?post=6358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/tags?post=6358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}