JPMorgan’s Jamie Dimon warns of ‘significant risks’ to US economy over Trump trade policies
JPMorgan CEO Jamie Dimon warned that President Trump’s trade policies pose “significant risks” to the US economy — even as the bank announced second quarter profits that were once again boosted by its trading desk.
Dimon, at the helm of JPMorgan for nearly two decades, reiterated that the commander-in-chief’s tariff plans could upend growth, while praising the passing of Trump’s Big Beautiful Bill.
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“The US economy remained resilient in the quarter. The finalization of tax reform and potential deregulation are positive for the economic outlook,” Dimon said in a statement.
“However, significant risks persist – including from tariffs and trade uncertainty, worsening geopolitical conditions, high fiscal deficits and elevated asset prices,” he added.
America’s biggest lender said its net income fell to $15 billion, down 17% from the same period last year.
This was due to a one-off $8 billion gain in 2024 from its stake in credit card provider Visa, the bank said.
Dimon’s remarks came as many other Wall Street firms, including Citi, BlackRock and BNY, prepared to unveil their own financial results for the second quarter of 2025.
This is a breaking news story. Check back for more updates.
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