JPMorgan CEO Jamie Dimon recently sold approximately $31.5 million in bank shares, marking his first sale since 2005. This action coincides with his warnings regarding the repercussions of U.S. President Trump's tariffs, which he believes contribute to global uncertainty. Dimon emphasizes the need for caution in business assumptions, suggesting that no one should take success for granted amid unpredictable economic conditions. He also pointed out that the recently announced tariffs were surprisingly different from expectations, creating shocks within the global economic system.
"A lot of this uncertainty is challenging that a little bit. So you're going to be reading about this nonstop until hopefully these tariffs and trade wars settle down and go away so people can say, I can rely on America."
"We should be careful. I don't think anyone should assume they have a divine right to success and therefore don't worry about it."
"When they announced the liberation day tariffs, they were dramatically different than people expected. Way off the table than what people expected. And that was shocking to the system. The global system, not just in the United States."
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