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Two months ago, Jamie Demon, CEO of JP Morgan Chase, defended President Donald Trump’s tariff policy with a kitchen message: “Overcome it.” But with the stock market decreases and the US economy is falling, Demon may not be more than that itself.
“I don’t think the average American user who wakes up in the morning and goes to work … changes what they are going to do because they read about taxes,” said Damon in an interview. Seafood Wednesday
“But I think companies can be,” he added. “Uncertainty is not a good thing.”
Anger at Demon prices. The tone of the United States, the CEO of the United States, said about “controlling” the revenue at the World Economic Forum in Davos, Switzerland. He said they could be a “economic device” or “economic weapon”, depending on how they used.
“I will put in the context: If this is a bit inflation, but it is good for national security,” Damon told CNBC at the time, “Damon said while interviewing the CNBC at the time.
Since then, Trump’s and off tariff policy has led to the stock market fluctuations. Although the wider markets were recovered on Wednesday, the S&P 500 was still less than 7 % in a month.
On Wednesday, Trump imposed 25 % of the tax on all steel and aluminum imported into the United States – which is the latest tariff period in the World Trade War – Canada and the European Union with rapid retaliation. He said that it aims to eliminate US manufacturing, slow illegal immigration and phenothenary trafficking, but economists have warned that extensive -based revenue has threatened to raise prices on everything from food to new homes.
Demon was not just a CEO, raising his voice about the dangers of trade war on Wednesday. Larry Fink, CEO of Blackrock, the world’s largest asset manager, said he believes the economy is weakening due to prices.
In an exclusive interview, Fink told CNN’s banana, “The short -term collective effect is that people are stopping, they are retreating.” “Talking to the CEO of the entire economy, I have heard that the economy is weakening as we talk.”
Nevertheless, Fink said the Trump administration’s policies, including tariffs, could be beneficial America in a long time.
“Presidents are focusing on prices right now, but when they talk about mutual rates, in fact, this can reduce tariffs for a long time,” said Fink.
CNN’s Elizabeth Bochold, Brian Mina and Kella Tauch played a vital role in reporting.
