Jamie Dimon Warns of Recession Risks from Trump’s Tariff Plans
JPMorgan Chase CEO Jamie Dimon has raised alarms about the potential economic repercussions of former President Donald Trump's proposed tariffs. In recent statements, Dimon warned that implementing such tariffs could push the U.S. economy towards a recession, emphasizing the risks of increased inflation and reduced economic growth.
Trump's tariff proposals, which he has suggested could be as high as 60% on certain Chinese goods and 10% on all imports, have sparked debate across the economic spectrum. Dimon's concerns are echoed by other financial experts who fear that such aggressive trade policies could disrupt global trade flows and negatively impact both domestic and international markets.
The CEO's comments come at a time when the U.S. economy is already facing challenges from high inflation rates and fluctuating interest rates. Dimon's cautionary stance is part of a broader discussion on how to balance protectionist policies with the need for economic stability and growth.
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How can tariffs cause a recession?
Should the tariffs remain in place for an extended period, they will likely raise costs and uncertainty for businesses, which could reduce their willingness to hire, invest in new equipment or software, or expand into new markets. Americans could cut back on their spending in the face of higher prices.
Are we going into recession in 2025?
A recent survey by The Wall Street Journal found that a substantial portion of economists now believe a recession will begin before year-end 2025, up from 58% six months ago.
How long is a recession?
Since World War II, the average length of a recession has been 11.1 months, according to the business publication Kiplinger. The post-WWII U.S. has averaged a recession every 6.5 years, it adds.
What is Trump's trade war?
An economic conflict between China and the United States has been ongoing since January 2018, when U.S. President Donald Trump began setting tariffs and other trade barriers on China with the goal of forcing it to make changes to what the U.S. says are longstanding unfair trade practices and intellectual property theft ...
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