JPMorgan CEO Jamie Dimon has issued a stark warning about President Donald Trump’s tariff policy, stating it could lead to higher prices, a global economic downturn, and weaken America’s standing in the world. In his annual letter to shareholders, Dimon warned that tariffs will increase inflation and cause many to consider a recession, while slowing down growth.
Dimon, one of the world’s most influential business leaders, emphasized the importance of America’s strong economy, military, and morals in its global position. However, he argued that Trump’s “America First” foreign policy could undermine the country’s special standing if it leads to fragmentation among Western military and economic alliances.
The CEO also highlighted the interconnectedness of security and economics, citing instances where economic warfare has led to military conflicts. Dimon acknowledged that damaging trade practices from China have hurt workers but emphasized that Trump’s tariffs are more severe and widespread than expected.
Dimon expressed concern about a potential market crash, warning that even with recent decline in market values, prices remain relatively high. He cautioned that the US economy looked resilient until recently but now faces a perilous and complicated geopolitical and economic environment.
The JPMorgan CEO urged caution, stating that the world has not seen an environment like this since World War II.
Source: https://edition.cnn.com/2025/04/07/business/jamie-dimon-tariff-warning/index.html