The CEO of JPMorgan Chase has expressed concerns that Donald Trump’s extensive tariffs could potentially trigger a recession.
Jamie Dimon, a highly influential figure in corporate America, has often been sought after for advice during times of crisis.
Latest on Tariffs: Escalation of US-China trade war
A recession occurs when there is a sustained period of economic decline in the gross domestic product (GDP), which represents the total value of goods and services produced within a specific timeframe.
During an appearance on Fox Business, Mr. Dimon stated, «I believe [a recession] is a probable outcome.»
«When you witness a 2000-point drop in the Dow Jones Industrial Average, it tends to exacerbate the situation, doesn’t it,» he added.
Providing recommendations to the Trump administration, Mr. Dimon urged the US government to swiftly advance in trade negotiations with other nations.
«Let’s take a moment, engage in trade discussions. That’s the most beneficial step they can take,» he advised. «I am maintaining a composed perspective.» The CEO of JPMorgan Chase has expressed concern that Donald Trump’s widespread tariffs could potentially lead to a recession. Jamie Dimon, a prominent figure in corporate America, is often consulted during times of crisis by administrations. In a recent statement on the escalating US-China trade war, Dimon expressed his belief that a recession is likely, citing the recent 2000-point decline in the Dow Jones Industrial Average. He recommended that the Trump administration focus on negotiating trade deals with other countries to mitigate the situation.
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