Dimon Warns Tariffs Risk Economic Fragmentation

JPMorgan Chase CEO Jamie Dimon has issued a stark warning regarding President Donald Trump's tariffs, predicting they will lead to higher inflation, slower economic growth, and an increased likelihood of a recession. Dimon emphasized that these tariffs could undermine America's global standing and economic alliances, potentially leading to a fragmentation of military and economic partnerships. Other financial leaders, including Bill Ackman, echoed these concerns, with Ackman describing the situation as a potential 'economic nuclear winter'. The tariffs have already caused significant market volatility, with global markets, including cryptocurrencies, experiencing sharp declines. Dimon stressed that resolving the tariff issue swiftly is crucial, as prolonged uncertainty could have irreversible negative effects, and noted the tariffs' impact on both imported and domestic goods, complicating economic recovery efforts.