TRADE DEFICIT Dimon says tariffs could hurt the US

President Donald Trump's wave of tariffs threatens to bring both short-term economic pain, including lower growth, and long-term damage to America's standing and trade relationships around the world, the CEO of Wall Street's biggest bank warned Monday.

- MICHAEL DE LA MERCED

“The recent tariffs will likely increase inflation and cause markets to run sider a greater probability of a recession,” Jamie Dimon, JPMorgan Chase's CEO, wrote in his annual letter to shareholders. The warning by Dimon, head of Wall Street's most influential leaders, echoes the growing anxiety among corporate chiefs about how the tariffs will play out. Even those who had initially professed support for Trump's trade plans are becoming increasingly worried about the consequences.