The US and China have increasingly been raising their tariffs. The US has slapped a 145% tariff on goods from China while China has put a 125% tariff on goods from the US.

China’s president Xi Jinping says there are "no winners in a tariff war" as Beijing faces 145% levies on some goods imported ...

The trade war poses certain risks to JPMorgan Chase, given its global reach. “Add that to the list of worries – we will be in the crosshairs,” CEO Jamie Dimon said Friday.