Banking executives discussed implications of Trump’s tariffs in high-level meeting, sources claim
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CEOs of major global banks, including JPMorgan Chase and Bank of America, engaged in discussions via a call arranged by the Bank Policy Institute to address concerns about the impact of President Donald Trump's recent tariffs. Barclays CEO C.S. Venkatakrishnan was also part of the call, highlighting the growing unease within the financial industry over the tariffs' economic consequences. Banking stocks have faced significant declines, reflecting worries that the tariffs could lead to reduced consumer spending, heightened recession risks, and a slowdown in capital markets. The financial community, including JPMorgan CEO Jamie Dimon and investor Bill Ackman, has voiced apprehensions about the long-term negative effects of the tariffs. Reports from Sky News earlier in the day revealed that executives from Citigroup and HSBC also participated in the call. Requests for comments from the banks' spokespeople remained unanswered at the time of reporting.

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