JPMorgan Chase CEO Jamie Dimon stated in his speech at the company's annual investor day that the effects of tariffs have not yet been fully felt. Dimon emphasized that markets are not sufficiently cautious in the face of these and other economic risks.
Dimon said, "When we evaluate all these developments, we cannot predict with certainty what the results will be. The possibility of inflation rising and stagflation emerging may be higher than the general consensus. We will see the effects of these uncertainties over time."
COUNTRIES' REACTIONS ARE UNCERTAIN
Stating that the tariffs are quite heavy even at current levels, Dimon expressed that it is uncertain how countries will react to this situation. He also added that trading partners are responding to the tariffs by making new agreements with other countries.
Stating that the US transition from imported products to domestic production is not possible in the short term, Dimon said that establishing a production facility would take at least three to four years. He expressed that this situation makes the effects of the tariffs even more complex.
News Source: 12punto
