Overview

• Jamie Dimon described President Trump’s initial tariff strategy as 'too large, too big, and too aggressive,' though he acknowledged its goal of addressing trade imbalances as valid.
• Dimon emphasized that tariffs should be implemented gradually, country by country, to minimize economic disruption and foster negotiation with trade partners.
• He warned that the tariffs could lead to short-term inflation, slower economic growth, and a potential mild recession, according to JPMorgan economists’ forecasts.
• Dimon urged the administration to prioritize pro-growth policies, including deregulation, tax reform, and comprehensive immigration reform addressing seasonal workers, DACA, and pathways to citizenship.
• He welcomed the preliminary UK-US trade agreement and noted easing tensions with China, Japan, and Taiwan as positive diplomatic developments.