Duties are likely to “increase inflation” and “slow down growth” in the United States, warns the large US bank Jpmorgan Chase in its letter to investors. “Recent customs duties will probably increase inflation,” says CEO Jamie Dimon, adding: “Whether customs duties will reach the challenge of economic downturn is uncertain, but will slow down growth.” “There is a lot of uncertainty about the new tariff policy,” observes Jamie Dimon and refers to the possibility of countermeasures by other countries, the consequences of investor confidence and the dollar equality. “The faster these issues are resolved, the better, because some negative consequences will accumulate over time and be difficult to dispel,” warns JPMorgan Chase chief. Source: RES
Source: News Beast
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