President Donald Trump has been accused of selectively quoting Jamie Dimon, the chairman of JPMorgan Chase, to suggest that Dimon supported his administration's escalating trade war during an interview on Fox Business with anchor Maria Bartiromo. In reality, Dimon expressed significant concern, indicating that a recession is a likely outcome of the president’s tariffs and warned that there may be an increase in loan defaults as economic conditions deteriorate.

Following the broadcast of Dimon’s interview, Trump posted on social media a misleading version of Dimon's statement, claiming that the CEO praised his trade policies. He sought to reassure his supporters by asserting that everything would eventually work out, even as tensions with China escalated, leading to retaliatory tariffs and continuing declines in global markets.

Despite Trump’s optimistic rhetoric, Dimon's actual comments in the interview conveyed a more pessimistic outlook on the impact of the tariffs, predicting negative effects on the U.S. economy. He acknowledged that while addressing trade issues is important, the consequences of the ongoing trade conflict could further erode business sentiment. Dimon described the likelihood of a recession as he considered the administration's tariff strategies miscalculated and expressed concern over rising loan defaults and persistent inflation.

As fears of an economic downturn grow amid stock market instability, Trump continues to promote his trade policies and encourage investment, juxtaposing his confident claims with the mounting concerns expressed by financial leaders.