JPMorgan's Jamie Dimon warns of ‘significant risks' to US economy over Trump trade policies

Core Viewpoint - JPMorgan CEO Jamie Dimon expressed concerns that President Trump's trade policies, particularly tariffs, pose significant risks to the US economy, despite the bank's strong second quarter profits driven by its trading desk [1][5]. Economic Outlook - The US economy showed resilience in the quarter, with positive impacts from tax reform and potential deregulation, according to Dimon [2]. - However, significant risks remain, including tariffs, trade uncertainty, worsening geopolitical conditions, high fiscal deficits, and elevated asset prices [3]. Financial Performance - JPMorgan reported a net income of $15 billion for the quarter, a decrease of 17% compared to the same period last year, primarily due to a one-off $8 billion gain from its stake in Visa [3]. - The bank's second quarter profits amounted to $5.24 per share, surpassing analysts' forecasts of $4.48 per share [4].