In a stunning revelation that could reshape perceptions of President Donald Trump’s tariff strategy, JP Morgan CEO Jamie Dimon has issued a dire warning about the hidden costs of these policies on the U.S. economy. In a recent statement, Dimon cautioned that Americans are underestimating the impending fallout, asserting that the full impact of tariffs is yet to be felt. “People feel pretty good because you haven’t seen an effect of tariffs. I think that’s an extraordinary amount of complacency,” he said, indicating a brewing economic storm that threatens to hit consumers hard.

As inflation looms and the specter of stagflation rises, Dimon’s comments expose a troubling truth: tariffs intended to pressure China are instead squeezing American businesses and households. Small business owners like Beth Benique, CEO of Busy Baby in Minnesota, have already felt the crunch, facing unexpected tariff bills that threaten their livelihoods. “I went from not being able to ship my products at all to dealing with a $48,000 tariff expense,” she lamented, highlighting the disconnect between Trump’s claims and the harsh reality faced by everyday Americans.

Retail giants like Home Depot are also sounding the alarm, revealing that some products may simply vanish from shelves due to unsustainable price hikes driven by tariffs. As companies grapple with rising costs, consumers will inevitably bear the brunt, facing higher prices for essentials like groceries and home goods.

The ramifications extend beyond individual wallets; they threaten to destabilize the entire economy. Dimon’s stark warning underscores a critical juncture—what began as a bold trade strategy may lead to an economic contraction that hits the most vulnerable the hardest. With allies turning away and American exporters losing ground, the question looms: who truly pays the price for Trump’s trade war? As the storm brews, one thing is clear: the reality of tariffs is hitting home, and it’s not just China that’s absorbing the cost.