JPMorgan Chase and Wells Fargo CEOs weigh in on Trump’s tariffs
Former secretary Wilbour Ross violates tariff talks with China on Kudlow.
The executive directors of the two largest banks in America discussed how the President Donald Trump Tariffs and other factors affect the economy and markets on Friday.
Jpmorgan chase ceo Jamie Dimon: And Wales Fargo Executive Director Charlie Sharf discussed Trump Tariffs with letters involved in the relevant earnings of their firms on Friday.
Dimon, who wrote in a letter in the letter at the beginning of the week, will probably increase inflation and worry about their influence on the US Economic Alliance, said that tariffs and trade weigh the economic prospect.
“The company is facing significant turbulence (including geopolitics), tax reform and prevention of tariffs and” traditional wars “for continuous adequate inflation and quite high assets and volatility. “As always, we hope for the best, but we make a firm with a wide range of scenarios.”
JPMORAN CHASE CEO JAMIE DIMON is a tariff warning in an annual letter
JPMorgan Chase Ceo Jamie Dimon said tariffs and “trade wars” can be negative to the economy. (Chris Ratcliffe / Bloomberg Via Getty Images / Getty Images)
Sharf said that he and the bank support efforts to improve the trade conditions of American companies, but they accept the risks and say that the sooner the trump card can ensure the trump. Commercial contracts, How well will the US economy be?
“We support the readiness of the administration to look at the obstacles to the fair trade of the United States, although there are risks related to such significant actions. He said the United States would be good for business, “he said.
Jamie Dimon warns that the decline is now “probable result” for US economy
Wells Fargo CEO Charlie Sharf said that the tariff war will be useful for the US economy. (Kyle Grillot / Bloomberg Getty Images / Getty Images)
At the beginning of this week, Trump stopped a 90-day break in his “mutual” tariff plans, while 25% tariffs in Mexico and Canada take effect, except. US-Mexican-Canada Agreement:He also raised tariffs for imported goods from China to 145%, which suggests that the Chinese government will revenge on 125% of American exports.
| Grieving | Safety | Last | Vocation | Change% |
|---|---|---|---|---|
| Museum | JPMorgan Chase & Co. | 235.25 | +8.51 |
+ 3.75% |
| Wfc | Wells Fargo & Co. | 63.11 | -3.22 |
-4.85% |
The administration says negotiations are beginning with other US trade partners, although the schedule of such transactions at the moment is unknown.
Vietnam has been prepared to break on Chinese trade to avoid trump cards. Report
Scarf added that the economy can slow down this year Uncertainty over trade And another policy, but mentioned that it can change, depending on how to move any policy, and when they take place.
Tariffs are taxes for imports that pay importers that usually transmit these more costs to consumers. (Qian Weizhong / VCG Via Getty Images / Getty Images)
“We expect continuing instability and uncertainty and we are ready for a slow economic environment in 2025, but the real result will depend on the results and terms of policy changes,” he wrote.
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“We and our customers enter the position of force in the current environment, which should serve us well,” added Scarf. “We are ready for different results, our focus is unbreakable, and we will continue to transform the wells of wells, introducing a well-controlled, faster and higher returning company.
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