Jamie Dimon, Chief Executive Officer of JP Morgan Chase & Company, has warned that the recent tariff measures declared by US President Donald Trump can awaken inflation and cause recession in the world’s largest economy.
In his annual letter to the shareholders, he has also suggested that the US is asking them to align themselves with the US rather than developing close trade relations with countries like India.
He said, “Recent tariffs will increase inflation and many people are considering more possibility of recession,” he said that market evaluation is relatively high. He said on Monday, “These important and some unprecedented forces are very cautious to us.”
Dimon said that even if tariffs do not cause recession, it will slow down development.
“Instead of tax improvement and possible positivity of tax improvement and deragulation and” trade wars, “sticti inflation, high fiscal deficit, and still high asset prices and evaporation,” trading and “trading and” trading and “trading with potential negativities of wars are facing considerable disturbance (including geopolitical),” said the Demone.
Tariffs will probably create some significant short -term effects according to them. “As short -term, we are likely to look at the results of inflation, not only on imported goods but also on domestic prices, because input costs increase and demand on domestic product,” he said.
Saying that the US lacks business agreements with some of its close colleagues, he said that Washington can extend a friendly hand to bring non -condensed nations like India.
“To deepen high -standard trade with major trading partners is good economics and great geopolitics. We do not need to ask many non -combined nations like India and Brazil to align with us -but we can bring them close to us by expanding a friendly hand with business and investment,” Dimon said.
The US has done duty up to 26% on Indian imports and has imposed 10% tariffs on Brazilian products.
Persing Square CEO, billionaire investor Bill Acman also warned: “We are in the process of destroying faith in our country as a market to trade in our country, as a place to trade, and to invest capital as a market to invest capital.”
The warning shots were also heard from the staunch loyalty senator Ted Cruise, as well as pointing at a rebel drinking at the Republican camp. “If we go into a recession, especially a bad recession, 2026, politically all possibilities would have a bloodbase,” he warned on his decision podcast.
Trump’s conservationist policies criticized a day, which deteriorates the frenzy sold on the trading floor worldwide, damaging trillions as the President announced tariffs on mutual, yet concessional, world. However, he hit a disregard note on Monday, equalized the tariff to a “medicine”, which was necessary to fix the economy.
Trump on Monday announced an additional 50% tariff on China, Beijing deteriorated its business war after retaliation with 34% of duties to his tariff Salvo. This effectively increases the total American tariffs on Chinese goods by 84%.