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Stocks have hit new highs despite President Trump’s escalating trade war. Some traders may be calling his bluff, but Jamie Dimon of JPMorgan Chase advises caution.

Why are markets rallying amid a raging trade war? Too much “complacency,” said Jamie Dimon of JPMorgan Chase.Mike Segar/Reuters

Andrew here. We’re taking a look at how markets are staying buoyant amid the debate over when the Fed might cut rates, and how tariffs — and President Trump’s continued pressure on the central bank to lower borrowing costs — could influence the outcome.

We also surveyed corporate governance experts on their reactions to Andreessen Horowitz’s call for companies to leave Delaware. And for those of you playing around with A.I., the C.E.O. of Honeywell tells us his best tips and tricks.

Rising tariffs … and stocks?

Another day, another round of tariff threats from President

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