JPMorgan Chase has reported that President Donald Trump’s cumulative tariff increases have reached approximately 22%, marking the largest tax hike since 1968. The bank has raised the risk of a global recession to 60%, citing potential repercussions from retaliation, supply chain disruptions, and a sentiment shock. A note from the bank warns that “sustained restrictive trade policies and reduced immigration flows may impose lasting supply costs that will lower U.S. growth over the long run.” Despite these concerns, JPMorgan believes that “the U.S. and global expansions stand on solid ground and should be able to withstand a modest-sized shock.”
JPMorgan warns of tariff impact
62 responses to “JPMorgan warns of tariff impact”
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