JPMorgan’s Jamie Dimon warns US faces ‘considerable turbulence’ amid trade war threats

JPMorgan Chase CEO Jamie Dimon has warned President Trump that nan US system is facing “considerable turbulence” from his threats to commencement a world waste and acquisition war.

“The system is facing sizeable turbulence (including geopolitics), pinch nan imaginable positives of taxation betterment and deregulation and nan imaginable negatives of tariffs and ‘trade wars’, ongoing sticky inflation, precocious fiscal deficits and still alternatively precocious plus prices and volatility,” Dimon said. “As always, we dream for nan champion but hole nan patient for a wide scope of scenarios.”

His remarks travel aft Trump paused his reciprocal tariffs for 90 days connected each countries isolated from China. The White House said it would hike levies to 145% connected Chinese goods, prompting Beijing to deed backmost pinch a 125% tariff connected American products.

JPMorgan CEO Jamie Dimon raised his concerns astir nan usage of tariffs successful an question and reply pinch Fox Business earlier this week. AP

Dimon made his comments successful a filing arsenic America’s biggest slope reported a 9% summation successful profits for nan commencement of 2025, registering $14.6 cardinal successful nett income for nan first 4th of 2025.

That is up from $13.4 cardinal for nan aforesaid play a twelvemonth and hit expert expectations of $13.6 billion.

Dimon, who has been successful nan bank’s apical occupation for astir 2 decades, besides fired a informing changeable complete really nan uneconomic uncertainty could measurement heavy connected M&A activitiy successful nan future.

The seasoned banker said finance banking “clients person go much cautious amid an summation successful marketplace volatility driven by geopolitical and trade-related tensions,” but his bank’s Wall Street operations still performed good successful nan first 4th of this year.

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