TLDR 

MARKET RECAP → The Dow (DIA) dropped for a third straight session as President Donald Trump’s new tariffs rattled markets, with fresh threats of even steeper levies on China adding fuel to investor jitters.

📉JAMIE DIMON WARNS ON TARIFF FALLOUT → 📉 Jamie Dimon said Trump’s tariffs could spike inflation and slow an already wobbly U.S. economy—calling it one big straw on the camel’s back.

TRUMP REOPENS REVIEW OF NIPPON–U.S. STEEL DEAL → 🛠️ Trump ordered a fresh review of Nippon’s $14.9B U.S. Steel takeover, giving markets hope the deal could still survive despite Biden’s earlier block over national security concerns.

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TODAY’S TOP NEWS

Trump Reopens Review Of Nippon–U.S. Steel Deal

🛠️ Trump ordered a fresh national security review of Nippon Steel’s proposed $14.9B acquisition of U.S. Steel, reopening a deal Biden previously blocked over supply chain concerns.

📈 U.S. Steel shares jumped 11% after the news, as Trump gave the Committee on Foreign Investment 45 days to determine if the companies’ risk-mitigation plans are enough.

🇯🇵 While Trump had initially opposed the deal, he softened his tone in February after meeting with Japan’s PM, hinting at a shift from outright rejection to strategic negotiation.

TODAY’S TOP NEWS

Jamie Dimon Warns On Tariff Fallout

🧾 Tariffs Took a Toll: JPMorgan CEO Jamie Dimon warned that Trump’s new tariffs would push up both import and domestic prices, likely stoking inflation and dragging down an already slowing U.S. economy. In his annual shareholder letter, he flagged rising input costs and demand pressures as short-term inflation drivers.

📉 Soft Landing? Not So Sure: Dimon said markets were still banking on a soft landing—but he wasn’t convinced. He noted that the U.S. economy was already losing steam, and elevated inflation could keep interest rates high even as growth fades.

🌍 Global Ripples, Domestic Risks: While he didn’t name Trump, Dimon called the tariff rollout a “critical crossroads” for the U.S. and global order. He backed some of Trump’s goals—like tackling unfair trade—but urged policymakers not to abandon the global alliances that have historically kept America economically and militarily strong.

KEEP READING

Peter Navarro says Vietnam’s 0% tariff offer is not enough: ‘It’s the nontariff cheating that matters’ (CNBC)

U.S. crude oil falls below $60 a barrel to lowest since 2021 on tariff-fueled recession fears (CNBC)

British carmaker Jaguar Land Rover pauses U.S. shipments over Trump tariffs (CNBC)

Spirit Airlines CEO Ted Christie steps down (CNBC)

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