Businesses worldwide and mainstream economists are fretting about higher prices as President Donald Trump unveils his tariff-heavy economic strategy. But Jamie Dimon, CEO of the world’s largest bank,

The JPMorgan CEO said that even if the tariffs prompt a global trade war and reignite inflation in the U.S., they could protect American interests.

Dimon's comments Wednesday come as Trump has threatened to impose a 25 percent tariff on products from Mexico and Canada by February 1 and a 10 percent tariff on Chinese imports. Earlier Wednesday, Trump also teased the notion of imposing "taxes, tariffs, and sanctions" on Russia if it doesn't end its war against Ukraine.

The president said he will impose tariffs Feb. 1 on products from Canada, Mexico and China, countries that together account for more than a third of U.S. trade.

The dollar touched a fresh two-week low on Wednesday, as a lack of clarity on President Donald Trump's plans for tariffs kept financial markets guessing and left the greenback struggling to regain ground against major currencies.

After bracing for a torrent of tariffs by Donald Trump from his first day in office, investors in Chinese assets are breathing a sigh of relief — at least for now.

Chinese stocks opened higher and the yuan strengthened in a cautious start to Tuesday, as U.S. President Donald Trump's inaugural policies suggested he will negotiate rather than immediately impose hefty tariffs on trading partners.