JPMorgan Chief Jamie Dimon warns trading war risks recession and higher prices

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JPMorgan Chase Chief Jamie Dimon warned that the global trade war risks to transfer the US economy into recession and raise prices by undermining the country’s long -term alliances.

In his extensively read annual shareholder letter published on Monday, smoke said tariffs Last week, US President Donald Trump “is likely to increase inflation and make many consider the recession.”

“The sooner this issue is resolved, the better because some negative consequences increase cumulative over time and difficult to cancel,” Panin wrote.

He said that many uncertainty remained in the planned tariffs, including potential revenge from other countries and their impact on business, investment and capital flow.

“I hope that after the negotiations, the long-term effect will have some positive benefits for the US,” Dimon added. “My most serious problem is how it will affect long-term economic alliances in America.”

Dimon’s comments, headed by JPMORGAN since 2006 and is one of the most influential votes on Wall Rate, is displayed Growing concerns in corporate America About the potential economic damage that Trump’s tariffs can cause.

He said the tariffs would probably be inflationary in the US in the short term and added: “Regardless of whether the tariff menu causes the recession, but it will slow down.”

The US economy remained sustainable despite the “restless landscape”, the dimon said, and the businesses looked healthy, and consumers were still giving out, although it watched the recent weakening.

Dimon, who has called himself a Democrat in the past, but whose views have been disagreeing in recent years, warned of growing geopolitical risks for more than a year.

He told shareholders in 2024 that the Russian conflict with Ukraine and violence in the Middle East have created risks at the level not seen after World War II.

While the White House tariff plans are critical of the tariff plans, the smimon expressed support for his efforts to ensure the country’s borders and stated that the Republicans had the right to the business championship, to restrict excessive intervention by the government and “declined on unnecessary, non -working work.”

Global shares collapsed on Monday, deepening about the route that wiped More than $ 5tn From American shares on Thursday and Friday.