The Globe and Mail reports in its Tuesday edition that President Donald Trump reaffirmed his stance on tariffs, causing turmoil in financial markets as Wall Street leaders voiced concern over his impact on global trade. The Globe's Mark Rendell writes that Mr. Trump's recent tariffs have unsettled markets and prompted warnings from business executives about a potential downturn. BlackRock chief executive officer Larry Fink noted that the U.S. economy is "weakening and many believe we may already be in a recession." Meanwhile, JPMorgan CEO Jamie Dimon warned in his annual letter to shareholders, published Monday, that "the recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession." Warnings from Wall Street have not reached the White House, as Mr. Trump reaffirmed his support for tariffs and threatened a 50-per-cent levy on China in response to their 34-per-cent retaliatory tariffs on U.S. goods. During a press conference, Mr. Trump stated he would not pause the tariffs but was open to negotiations if other countries made concessions. Major U.S. stock indexes lost more than 10 per cent on Thursday and Friday and continued to fluctuate wildly during the new week.