The Globe and Mail reports in its Thursday, April 10, edition that JPMorgan chief executive officer Jamie Dimon said on Wednesday that sweeping tariffs imposed by U.S. President Donald Trump will probably lead to a recession and defaults by borrowers. A Reuters dispatch to The Globe reports that Mr. Dimon said, "So long as you have rates going up inflation is sticky and credit spreads are gapping out, which they're going to, I think you'll see more credit problems." Mr. Dimon urged fast progress on trade negotiations with U.S. trading partners in order to calm markets, which have been roiled by tariff announcements. "I hope what they really do is get those things done quickly," he said, referring to trade negotiations between U.S. Treasury Secretary Scott Bessent and other nations. "If they want to calm down markets, show progress on those things." Mr. Dimon, 69, a prominent voice in corporate America, has advised administrations during crises. He was considered for senior economic roles, including Treasury Secretary, during the 2024 presidential campaign but remained at the bank. Mr. Dimon said, "I'm taking a calm view, but I think it could get worse if we don't make some progress here."