Top Banker Says Recession Coming?

Wall Street heavyweight issues cautious outlook as President Trump puts America First on global trade

(April 2025) — JPMorgan Chase CEO Jamie Dimon raised eyebrows this week when he suggested that a recession could become a “likely outcome” following President Donald Trump’s powerful new tariffs designed to protect American workers and restore fair trade.

In an interview on Fox Business Network’s “Mornings with Maria,” host Maria Bartiromo asked Dimon point-blank:
“Do you personally expect a recession as a result of the new tariffs?”
Dimon responded carefully:

“I’m going to defer to our economists, but yes—I’d say that’s probably the likely outcome right now.”

💼 Tariffs Meant to Protect U.S. Interests Spark Global Reaction

Dimon’s remarks came on the same day that Trump’s expanded import tariffs officially went into effect. These trade measures—announced on April 2nd, which Trump declared “Liberation Day”—impose a baseline 10% tariff on foreign imports. Some nations, like Lesotho, faced 50% tariffs, while China saw its rate jump above 100% after retaliating with its own trade barriers.

The tariffs, which are part of Trump’s bold strategy to rebuild U.S. manufacturing and secure national interests, have led to short-term market swings, but so far, the U.S. stock market has held steady. Global markets have shown volatility, but American investors appear to be adjusting with confidence.

💬 “Markets aren’t always right,” Dimon added, “but this time they may be, because they’re pricing in uncertainty—both macro and micro.”

📈 U.S. Markets Holding Strong as Trump Puts America First

Despite global uncertainty, Wall Street has not collapsed. In fact, after a brief dip, markets rallied Tuesday on speculation that Trump may adjust tariff pacing, showing the strength and resilience of the Trump economy.

President Trump has remained unshaken, emphasizing that America will no longer be taken advantage of by foreign nations who enjoy lopsided trade deals at the expense of American workers and retirees.

📣 “We’re done being the world’s piggy bank,” Trump said in a recent statement. “This is about American jobs, American security, and American pride.”

🧠 Dimon Changes His Tune on Tariffs

Earlier this year, Jamie Dimon supported Trump’s tariffs on China, Canada, and Mexico, citing national security benefits and long-overdue trade corrections. But this week, he warned that prolonged trade uncertainty might hurt business sentiment.

Even so, Dimon was clear:

“We have the strongest economy in the world. Hopefully, we avoid a recession. And if we don’t—it’ll be short.”

He also emphasized the need for a swift resolution to trade tensions:

“Fixing the tariff issues will clear away a major source of uncertainty. That’s good for business and good for the country.”

✅ Bottom Line: Trump’s Tariffs May Rattle Elites—But America Remains Strong

While the financial class may wring their hands, many everyday Americans support Trump’s tough stance on trade. After decades of bad deals, President Trump is delivering on his promise to fight for American workers and bring economic independence back to the U.S.

🇺🇸 America First isn’t just a slogan—it’s a policy with backbone.