A tariff-driven recession is the "likely outcome" for the U.S. economy, says Jamie Dimon, the head of the country's largest bank.

JPMorgan Chase CEO Jamie Dimon says a recession will likely be triggered by President Trump's sweeping tariffs

In an interview with Fox Business on Wednesday, Dimon pointed to weakening consumer spending and possible defaults from borrowers as a result of the uncertainty currently sweeping

President Trump on Saturday touted his tariff regime as an "economic revolution" and told businesses to "hang tough" in the face of widespread market panic. Why it matters: Economists say a recession is highly likely,

Trump’s reciprocal tariffs triggered a massive sell-off across Wall Street, with the Dow Jones plunging over 2,000 points, the S&P 500 witnessing its worst two-day sell-off since March 2020, and the Nasdaq entering bear market territory.

Several new, sweeping taxes on goods from other countries are already here — and more took effect on Wednesday. Trump has promised higher rates for his latest and most severe volley of duties, which he calls “reciprocal” tariffs.

US President Donald Trump’s sweeping new tariffs have gone into full effect. When Mr Trump announced the latest round of tariffs on April 2, he declared that the US would now tax nearly all of America’s trading partners at a minimum of 10% – and impose steeper rates for countries that he says run trade surpluses with the US.

The nation's top trade representative says that President Donald Trump's sweeping tariffs are already getting results, bringing other countries to the negotiating table to discuss reducing their trade barriers.

U.S. President Donald Trump on Wednesday abruptly paused part of his tariff assault on global trading partners, dialing back duty rates on goods from many countries for 90 days to allow room to negotiate lower trade barriers,

The global economy appeared to be in open rebellion against President Donald Trump’s tariffs as they took effect Wednesday. Business executives are warning of a potential recession caused by his policies,

U.S. Trade Representative Jamieson Greer addressed the Senate Finance Committee a day after global markets swung wildly and some business leaders lambasted the president's aggressive bid to raise tariffs on almost every nation on earth.