Senior Executive Directors of the Big Bank on the Trump tariff

The executive chiefs of two of the largest banks in America discussed how the president Donald Trump Definitions and other factors affect the economy and markets with the issuance of their quarterly profit reports on Friday.

Jpmorgan Chase CEO Jimmy Damon Charlie Charf, CEO of Wales Vargo, discussed the Trump tariff in the messages listed in its company’s profit reports on Friday.

Damon, who wrote in a letter to shareholders earlier in the week, pointed out that the customs tariff is likely to increase inflation and raised concerns about its impact on American economic alliances, that the customs tariff and trade weighs economic expectations.

Damon wrote: “The company faces the major turmoil (including political geography), with the potential positives of tax reform and the abolition of organizational restrictions and potential negatives of definitions and” commercial wars “, and continuous sticky inflation, high financial deficit, and somewhat high asset prices,” Dienon Books “. Scenarians. “

Jpmorgan Chase CEO Jamie Dimon

Scharf said that the bank is supporting the efforts made to improve the conditions of trade for American companies, but he admitted the dangers and said that the Trump administration is hurry to secure favorable Commercial agreementsThe better the American economy.

“We support the administration’s willingness to consider the barriers that prevent fair trade in the United States, although there are risks associated with these important measures,” he said.

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Earlier this week, Trump announced a temporary stop for 90 days in the “mutual” tariff plans, while he was previously leaving a 25 % tariff on Mexico and Canada, except for the goods that cover it. The United States and Mexico-Conada Agreement. It also raised the definitions of goods imported from China to 145 %, prompting the Chinese government to take revenge by 125 % on US exports.

index	protection	last	Changing	% Change
Jpm	Jpmorgan Chase & Co.	233.18	+6.44	+2.84 %
WFC	Wales Vargo and Co.	63.11	-3.22	-4.85 %

The administration says it begins negotiations with other commercial partners in the United States, although the schedule to complete any of these deals is unclear at this time.

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Sharaf added that the economy may slow down this year because of Uncertainty about trade And other policies, but I noticed that this may change depending on how to turn on any shifts in the policy and when it occurs.

“We expect continued volatility and uncertainty and we are ready for a slower economic environment in 2025, but the actual result will depend on the results and timing of politics changes,” he wrote.

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“We and our agents come to the current environment from the strength site that should serve us well,” Sharaf added. “We are ready for a variety of results, and our focus is fixed, and we will continue to convert the Wells Fargo by investing to build a well -controlled and growing company while working on our customer service better and become more efficient.”