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On Monday morning, America's top economic competitor announced that it was responding to Trump's 34% tariff increase with an additional 34% of its own.

Josh Robbins, an attorney at the Pacific Legal Foundation, said an additional legal problem with the president’s tariffs is that Congress was wrong in handing over its tax authority to the executive branch.

Of the uncertainty caused by Trump’s lack of clarity about the size and timing of his tariffs, Dimon added, “In the short run, I see this as one large additional straw on the camel’s back.”

He declined to discuss how additional duties of 24% on Japanese exports could change the prices American consumers pay.

In November 2022, he was convicted of a second assault and sentenced to an additional two years and four months in prison.