As global stock markets plunged on Monday amid President Donald Trump’s unrelenting tariff campaign, the country’s most prominent banking CEO called for a more moderate approach. In his annual shareholder letter published on Monday, Jamie Dimon, the CEO of JPMorgan Chase, wrote that the economy is facing “considerable turbulence,” citing the potential fallout of an escalating trade war.
Dimon and Trump have long had a complicated relationship, with Dimon never endorsing the president, though he has publicly supported some of his policies, including tariffs. In a January interview on CNBC, soon after Trump took office, Dimon described tariffs as an “economic weapon,” telling critics to “get over it.”
