Trump's Financial Shakedown: Top Banker Claims America Facing 'Considerable Turbulences' and 'Trade Wars' as Citizens Await Unpredictable President's Next Tariffs Move
Donald Trump may have just delivered a hit America can't recover from.
April 11 2025, Published 5:30 p.m. ET
Bank bosses are now speaking out against Donald Trump's crazed tariffs moves, including JPMorgan Chase CEO Jamie Dimon, who claims America is headed for dark days.
Despite the controversial president putting a pause on tariffs, Dimon does not believe that will help the bleeding at all, RadarOnline.com can reveal.
Trump has caused chaos with his tariffs hikes.
On Wednesday, April 9, Trump announced a 90-day pause on the tariffs hikes in response to "more than 75 countries" reaching out to attempt to negotiate a new deal. However, Dimon said the damage has already been done.
According to the banker, Trump's blanket 10 percent on all trading partners remains, as the pause was only for reciprocal tariffs.
He said: "The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and 'trade wars,' ongoing sticky inflation, high fiscal deficits and still rather high asset prices and volatility."
JPMorgan Chase CEO Jamie Dimon thinks the damage has been done despite the 90-day pause on the hikes.
"As always, we hope for the best but prepare the firm for a wide range of scenarios," he added.
While Trump put a pause on reciprocal tariffs, he did not back away at all from hiking up the price for China as both countries continue to duke it out.
President Xi Jinping raised its total retaliatory tariff on U.S. imports to 125 percent on Friday, April 11, after Trump clarified that U.S. duties on Beijing are actually 145 percent because of earlier fentanyl-related levies.
According to White House spokesperson Karoline Leavitt, Trump will make a decision on tariffs moving forward following the 90-day pause, however, countries have apparently been desperate to make a deal
Leavitt claimed: " The phones have been ringing off the hook to make deals, and these countries wisely heeded President Trump’s warning not to retaliate.
"And as a result, they were rewarded with a 90-day pause and substantially lower reciprocal tariff rates during this period, so potential solutions can be achieved."
White House press secretary Karoline Leavitt claimed countries are reaching out to make a deal.
She continued: “(Trump is) hoping that there will be good deals made before the 90 days is up, and we will cut those deals as soon as we possibly can, country by country, tailor-made deals for each and every country."
Despite the stock markets seemingly falling apart, it has not stopped Trump from gloating about his accomplishments as he said on X: "Very exciting for America, and the World!!! It is moving along quickly."
And while the nation was sick with anxiety over their uncertain future, the 78-year-old was busy making showers great again.
On Wednesday, April 9, Trump signed an executive order putting an end to a Biden-era conservation measure that placed "excessive regulations" on water pressure. The restrictions had been imposed by former President Barack Obama.
He boasted on Wednesday from the White House: "I like to take a nice shower, take care of my beautiful hair. I have to stand in the shower for 15 minutes until it gets wet. Comes out drip, drip, drip. It’s ridiculous."
Trump added: "What you do is you end up washing your hands five times longer, so it’s the same water. And we’re going to open it up so that people can live."
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Trump gloated things were 'exciting' for America amid the destruction.
The new order will now have Trump resetting the definition of "showerhead" from a 1992 energy law, which noted a simple 2.5-gallons-per-minute standard for showers.
