Jamie Dimon says recession is a “likely result” from Trump’s tariff upset

JPMorgan CEO Jami Dimon said he sees that the US economy was most likely to go to the recession as the tariffs of President Donald Trump Roil Financial Markets.

With the trade war between the US and China, the shares and bonds are again aggressively sold in the morning trade. Futures on the stock market have fallen and bond yields amid concern about financial and economic stability caused by Tit-For Tat exchange between the two countries.

“I think this is probably a likely result because the markets I mean when you see a decrease in the 2000s (in Dow Jones Industrial), it’s kind of eating yourself,”-said Dimon at “Mori with Mary” Fox Business. “It makes you feel that you are losing money at 401 (k) you are losing money in your retirement. You have to cut.”

Fears of the recession increases by Wall -Street when Trump tariffs cause uncertainty in how far the trade war will grow.

In the latest development, China has stated that it would break away by 84% of the tariffs for all US goods, which is 50 percentage points from the previous level, since the US mutual duties come into force around the world. Dow futures were disabled by more than 800 points, and the 10-year treasury increased by almost 20 basic points, or 0.2 percentage points.

JPMorgan economists expect the US gross domestic product to conclude 0.3%, a light recession call, but will come after a strong year for growth.

“The markets are not always right, but sometimes they are right,” said Dimon. “I think this time they are right because they are just the uncertainty prices (AT) macro level and uncertainty (AT) micro level, at the actual level of the company, and then, as it affects the mood of consumers. It’s hard to say.”

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