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They noted that "a disruptive U.S. policy poses the greatest threat to the global outlook for the entire year as U.S. trade policy has turned out to be less favorable for businesses than anticipated."
"The consequences of this rise will probably be intensified by retaliatory actions (from other nations), a decline in U.S. business confidence, and disruptions to supply chains," the bank noted.
JPMorgan analysts are currently refraining from altering their projections while awaiting potential discussions on reducing tariffs among nations.
"We consider the complete implementation of the declared U.S. policy as a major macroeconomic shock that is not presently factored into our projections. Therefore, we highlight that if these policies are continued, they may drive the U.S. economy and potentially the global economy into recession this year," the report stated.
Other Wall Street companies, such as Barclays and Deutsche Bank, have likewise cautioned that the U.S. economy is at an increased risk of falling into recession this year if the new tariffs continue.
source: wsj.com
"The consequences of this rise will probably be intensified by retaliatory actions (from other nations), a decline in U.S. business confidence, and disruptions to supply chains," the bank noted.
JPMorgan analysts are currently refraining from altering their projections while awaiting potential discussions on reducing tariffs among nations.
"We consider the complete implementation of the declared U.S. policy as a major macroeconomic shock that is not presently factored into our projections. Therefore, we highlight that if these policies are continued, they may drive the U.S. economy and potentially the global economy into recession this year," the report stated.
Other Wall Street companies, such as Barclays and Deutsche Bank, have likewise cautioned that the U.S. economy is at an increased risk of falling into recession this year if the new tariffs continue.
source: wsj.com
