JPMorgan Chase CEO Jamie Dimon said Wednesday that sweeping tariffs imposed by U.S. President Donald Trump will probably lead to a recession and defaults by borrowers, he told Fox Business’ Mornings with Maria.

"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," Dimon said.

Dimon urged fast progress on trade negotiations with U.S. trading partners in order to calm markets, which have been roiled by tariff announcements.