Wall Street bosses warn of short-term weakness in the U.S. economy over tariff risks
The Internet reported,"I don't think the average American consumer will change his behavior when he wakes up in the morning and goes to work... just because he reads tariff news," JPMorgan CEO Jamie Dimon said in an interview on Wednesday."But companies may. "He added," Uncertainty is not a good thing after all. "On Wednesday, Trump announced a 25% comprehensive tariff on all steel and aluminum imports into the United States. Although Trump claims the move is aimed at revitalizing U.S. manufacturing, curbing illegal immigration and halting fentanyl smuggling, economists warn that sweeping tariffs could lead to higher prices for everything from food to new homes. Dimon was not the only CEO who spoke out about tariff risks that day. Larry Fink, CEO of BlackRock, the world's largest asset manager, said in an interview that tariffs are weakening the economy. "The combined effect in the short term is that people are suspending investment and shrinking business," Fink said."Judging from my exchanges with CEOs in various industries, the economy is indeed slowly stalling right now. "However, Fink also pointed out that the Trump administration's policies (especially tariff measures) may bring benefits to the United States in the long run.
Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.