JPMorgan chief Jamie Dimon warns trade war risks recession and higher prices

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JPMorgan Chase Chief Jamie Dimon warns that the risk of a World Trade War has made the US economy downstream and driving the price, while the long -term coalition of the country undermines.

Dimon said in his widely read annual letter to shareholders published on Monday Tariff US President Donald Trump announced last week “will probably increase inflation and many consider the greater potential of the recession”.

“This problem is as soon as solved as soon as some negative effects over time are increasingly increasing and it will be tough to reverses,” Dimon Written

He said that there was a lot of uncertainty from the potential retaliation of other countries and the confidence of the business, their impact on investment and their impact on capital flow.

“I hope that after the discussion, the long -term impact will get some positive benefits for the United States,” Dimon added. “My most serious concern is how it will affect America’s long -term economic alliance.”

Dimon’s comments, who have led JP Morgan since the 2006, and one of the most influential voices on Wall Street, reflected Growing anxiety across corporate America About Trump’s tariffs about the potential economic damage.

He said that the tariffs would probably be inflation in the United States in the short term and added: “The question of the customs menu remains in the question of whether there is a recession question, but it will slow down the growth.”

Dimon said the US economy was elastic despite the “Unsetling Landscape”, and traders were healthy and customers were still spending, although he observed some of the recent weaknesses.

Dimon, who has described himself as a Democrat in the past, has warned of increasing geographical risk for more than a year, whose opinion has moved from the team in recent years.

He told the shareholders in 2021 that the risk had not been seen since World War II with Russia’s conflict and violence with Ukraine in the Middle East.

While criticizing the White House tariff plan, Dimon expressed his support for the country’s borders and said that Republicans were right to restrict the champion business, additional government interference, and “unnecessary, mind-to-mind, job-killing rules.”

Global stocks on Monday deleted, deepening a route that deepened More than $ 5TN From US equity on Thursday and Friday.