New Delhi, April 7 -- JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon has warned that the recent reciprocal tariffs imposed by US President Donald Trump will possibly result in an inflation situation in the country.

In his annual letter to shareholders on Monday, Dimon said that the recent US tariffs may also cause people to give in to fears of an impending recession.

"The recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession," he said.

Jamie Dimon also warned that the price valuations at markets still remain relatively high, which is another reason to be cautious.

"And even with the recent decline in market values, prices remain relatively high. These significant ...