JPMorgan Chase CEO Jamie Dimon has warned investors about the potential of increasing prices and further slowing the US economy as a result of the presidential tariff policy of President Donald Trump.
“Recent tariffs are likely to increase inflation and cause many to consider a greater possibility of a backwards,” Dimon warned of his annual Letter to the shareholders. “Whether or not the tariff menu brings a backwardness remains to be talked about, but it is slow to grow.”
“Whatever you think of the legitimate reasons for newly announced targets-and, of course, there are some long-term impact, good or bad, likely with important short-term effects,” he said, noticing that rising prices will not only affect imported goods but even domestic prices.
Global markets, including crypto markets have been in freefall since Sunday in hopes of Trump’s latest tariff announcement on Monday. Bitcoin (BTC), has fallen below $ 79,000 at its lowest point since November. It is currently trading flat in the past 24 hours at $ 78,235. CoinDesk 20, which monitors the 20 largest crypto assets through market capitalization, has dropped more than 10% today and almost 20% last month.
Dimon said he was all for Trump’s “America First” policy, but it could not be “America.”
“If the world’s military and economic alliances will be filed, America itself will inevitably weaken over time,” he warned.
