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Jamie Dimon Warns of Tariff Turbulence As Global Markets React

Jamie Dimon sounds the alarm on Trump’s trade war, warning that rising tariffs could quietly choke growth, rattle global alliances, and push the economy closer to the edge.

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Julia Smith

Author

Julia Smith

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Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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Last updated:

April 7, 2025

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Key Takeaways:

In a striking shift, 60% of Polymarket bettors now predict a 2025 recession—a nine-point jump in just 24 hours—immediately following Trump’s dramatic unveiling of sweeping global tariffs.
With markets already reacting and Bitcoin’s sharp fluctuations underscoring broader investor nervousness, Dimon’s letter serves as a real-time cautionary tale rather than a distant forecast.
As markets reel from tariff turbulence, Bitcoin and other digital assets are feeling the shockwaves.

JP Morgan CEO Jamie Dimon says that U.S. President Donald Trump’s recent tariffs may heighten the odds of a recession and prompt an economic slump in growth, his annual letter to shareholders reveals.

Jamie Dimon Warns Of Tariff Concerns

In the letter, Dimon warns that Trump’s controversial tariff policy will “likely increase inflation” and “slow down growth.”

“There are many uncertainties surrounding the new tariff policy: the potential retaliatory actions, including on services, by other countries, the effect on confidence, the impact on investments and capital flows, the effect on corporate profits and the possible effect on the U.S. dollar,” he said.

BREAKING: JP Morgan CEO, Jamie Dimon, says tariffs will increase inflation, likely cause a recession, and should be "resolved quickly." pic.twitter.com/NqPc8LG2x9
— The Kobeissi Letter (@KobeissiLetter) April 7, 2025

The financial firm head also cited concerns surrounding the policies’ potential to negatively impact America’s longstanding “economic alliances.”

“The quicker this issue is resolved, the better because some of the negative effects increase cumulatively over time and would be hard to reverse,” he added. “In the short run, I see this as one large additional straw on the camel’s back.”

Donald Trump Doubles Down On Tariff Stance

Dimon’s comments as global markets struggle to adapt to the new U.S. tariff policy, with key markets continuing to slide stateside as Trump’s trade war continues.

Crypto markets were also drastically impacted by the turmoil, with Bitcoin hovering around $78,000 as of Monday afternoon.

Earlier in the day, Bitcoin dropped below $75,000, with the cryptocurrency down 4.30% in the last five days.

However, markets as a whole could get worse in the coming days given that Trump is planning to follow through with hiking up tariffs against China from 34% to 50% come April 9.

On Monday afternoon, reports emerged that China had no intentions of backing down, with the country bringing their own reciprocal tariffs against the U.S.

With Trump refusing to abandon his policy plans, only time will tell how heightened levels of global volatility will affect the digital asset sector long-term.