Post by : Omar Nasser
Photo : Reuters
Jamie Dimon, the head of big bank JPMorgan Chase, says U.S. tariffs and trade fights with other countries might cause big problems for the American economy. He believes these new taxes on trade could slow down business, make prices go up, and cause long-term harm.
Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel
Dimon wrote a letter to the bank's shareholders on Monday. In the letter, he said these trade problems are making investors worried. Just last week, the stock markets around the world lost a lot of money. Stocks in Asia also fell on Monday because people are scared of losing more.
He said the U.S. economy is facing many problems. Some things, like tax cuts and fewer rules, are helpful. But things like tariffs, trade fights, rising prices, big government spending, and expensive stock prices are causing trouble.
Dimon, who is 69 years old, has led JPMorgan for 19 years. He is one of the top voices in business. He said, “We may see more inflation (when prices rise). Even if tariffs don’t cause a recession (a weak economy), they will slow down growth.”
JPMorgan’s team said the chance of the U.S. and the world having a recession this year has gone up. Before it was 40%, now they say it’s 60%. This change happened after President Donald Trump made the biggest trade taxes in over 100 years. When asked about the falling markets, Trump said, “Sometimes you have to take medicine to fix something.”
Dimon also said that other countries may fight back by adding their own tariffs. This could hurt business trust, money coming into the U.S., company profits, and the value of the U.S. dollar.
He said, “We should fix this problem quickly. If not, the damage will grow and be hard to fix.”
Dimon often gives his views on government rules. Some people even thought he might get a top job in government during the 2024 elections. But he stayed at JPMorgan.
He also said that tariffs could make interest rates go up. Right now, rates are lower because the U.S. dollar is weak. But if growth slows and people don’t want to take risks, rates might rise again. He compared this to the 1970s, when the U.S. had both high prices and slow growth, which was a very bad time.
He warned that hopes of a “soft landing” — where the economy slows down gently without crashing — might not happen. He said, “Right now, stocks and debt are still priced high, even after the recent fall. Many people think the economy will stay strong, but I’m not sure.”
Saudi Arabia Shines Bright at Islamic Solidarity Games 2025
With 57 medals, Saudi Arabia excels at the Islamic Solidarity Games 2025, celebrating its achievemen
Over 300 Students, Staff Kidnapped from Nigerian Boarding School
More than 300 students and staff were kidnapped from a Nigerian school, prompting President Tinubu t
Shilpa Shetty & Raj Kundra Celebrate 16 Years of Love
Shilpa Shetty and Raj Kundra mark their 16th wedding anniversary with a funny, heartwarming video ce
Smriti Mandhana & Palash Muchhal’s Vibrant Pre-Wedding Festivities
Smriti Mandhana and Palash Muchhal dazzle fans with colorful mehendi and haldi celebrations, countin
Taijul Islam Becomes Bangladesh’s Top Test Wicket-Taker
Taijul Islam became Bangladesh’s leading Test wicket-taker with 248 wickets, surpassing Shakib Al Ha
Bavuma Becomes Second-Fastest SA Captain to 1,000 Test Runs
South Africa skipper Temba Bavuma reaches 1,000 Test runs in 20 innings, second-fastest after Graeme
Tyson Shuts Nebraska Beef Plant Amid Historic Cattle Shortage
Tyson Foods to close Nebraska beef plant as U.S. cattle hit 75-year low, pressuring meat prices and
Taijul Islam Becomes Bangladesh’s Top Test Wicket-Taker
Taijul Islam became Bangladesh’s leading Test wicket-taker with 248 wickets, surpassing Shakib Al Ha
Bavuma Becomes Second-Fastest SA Captain to 1,000 Test Runs
South Africa skipper Temba Bavuma reaches 1,000 Test runs in 20 innings, second-fastest after Graeme
Indian Shuttler Lakshya Sen Beats Chou Tien Chen in Semifinal
Lakshya Sen beats world No. 6 Chou Tien Chen in a thrilling 3-game semifinal to reach Australian Ope
Manuel Arias Banned by FIFA Weeks Before 2026 World Cup
FIFA bans Panama football president Manuel Arias for six months and fines him for not respecting a p
France to Face Brazil and Colombia in World Cup Friendly Games
France will play friendly matches against Brazil and Colombia in March 2026 in the US, ahead of the
Australia Win First Ashes Test with Travis Head’s Century
Travis Head scores 123 to guide Australia to an eight-wicket win over England in Ashes opener. Head
Australia Crush England in First Ashes Test at Perth Stadium
Australia stunned England in the first Ashes Test with Head's century and Starc and Boland taking ke
Sydney Sixers Beat Hobart Hurricanes to End Their Winning Streak
Sydney Sixers defeated the unbeaten Hobart Hurricanes by 11 runs, powered by Ash Gardner’s brilliant