Trump's tariff policy to boost US inflation — JPMorgan Chase CEO

Jamie Dimon, CEO of JPMorgan Chase, analyzed the economic situation and expressed concern over the US President's new tariff policy. He estimated that the imposed duties will inevitably lead to an increase in both imported and local goods prices, putting more pressure on a slowing US economy.

Dimon emphasized that such trade measures will have a clear negative impact on economic growth. Higher production costs will be passed on to consumers, intensifying the rise in inflation. A large-scale drop in stock indices has already been seen as a result of the uncertainty among market participants.

The US economy was quite weak even before the new tariffs were announced, Dimon says. Previously supported by years of government spending programmes, it is now showing clear signs of exhaustion, which has been exacerbated by the protectionist policies.

Dimon's position has changed from his January statements. At that time, he considered concerns about the tariffs exaggerated. Now the head of the largest American bank sees them as a serious risk factor for the country's economy.