Wed Apr 09 12:30:00 UTC 2025: ## JPMorgan CEO Warns Trump’s Tariffs Threaten Global Recession
**New York, NY** – JPMorgan Chase CEO Jamie Dimon issued a stark warning Monday, asserting that President Trump’s tariff policy poses a significant threat to the global economy, potentially triggering a recession and diminishing America’s international standing.
In his annual letter to shareholders, Dimon stated that the tariffs are likely to fuel inflation and increase the probability of a recession. While acknowledging that the ultimate impact remains uncertain, he emphasized that economic growth will undoubtedly slow.
Dimon, a highly influential figure in the business world, highlighted the interconnectedness of economic and military strength in maintaining America’s global leadership. He expressed concern that the “America First” approach, if it isolates the US, could weaken its position on the world stage. He cautioned that fragmentation of Western economic and military alliances would ultimately harm the United States.
While Dimon previously downplayed the tariffs’ impact, his current stance is significantly more urgent. He now believes the tariffs’ severity and breadth far exceed earlier expectations. He points to a recent market plunge as a potential harbinger of further declines, warning that the current market valuation remains relatively high despite the recent drop.
Despite the US economy’s recent resilience, Dimon expressed caution about the future, citing the current geopolitical and financial climate as the most challenging since World War II. He stressed the need to recognize the crucial link between economic and security policies, noting that economic warfare has historically led to military conflict. Dimon’s shift from earlier relatively muted concerns signals a growing alarm within the business community about the long-term consequences of the administration’s trade policies.
First Piper 