Jamie Dimon Warns Trump's Tariffs Could Hurt the Economy

In his annual letter to shareholders, JPMorgan Chase CEO Jamie Dimon addressed the potential economic consequences of Trump's proposed tariffs. Dimon warned that an escalating trade war could significantly dampen both consumer and investor confidence, leading to a slowdown in economic activity. He specifically pointed out that increased tariffs could result in higher prices for goods, thereby driving up inflation. This, in turn, could reduce consumer spending and negatively impact economic growth. Dimon emphasized the importance of carefully considering the potential ramifications of trade policies on the broader economy, urging policymakers to seek solutions that promote stability and growth.