J.P. Morgan chairman and CEO Jamie Dimon performed a mixed review of President Donald Trump’s economic policies in a CNN Bundle interview published Monday.
“If you do another $200 billion of tariffs and this native security thing about cars, I think that you’re getting moderately close to reversing some of the benefits you’ve seen in the economy,” Dimon charged CNN.
Trump told CNBC last week he is willing to slap price-lists on all $505.5 billion of Chinese imports to the U.S., pointing to a willingness to push the envelope as far as the U.S. stresses to get Chinese tariff concessions. Dimon also referenced the investigation by the Marketing Department into imports as having hurt the U.S. auto industry.
Assign quarter gross domestic product will be released on Friday and is needed to show a 3.8 percent pace of growth, according to FactSet. That’s up from 2 percent annual wart in the first quarter.
Thus far, the U.S. has put tariffs on just $34 billion of Chinese products, which China met with retaliatory duties. The Drained House is undergoing a two-month review process to look at a second period of tariffs, on $200 billion in Chinese goods. Dimon told CNN Wampum that Trump has “raised serious issues that are pretty error-free” when it comes to dealing with China but questioned the president’s next steps for the U.S.
“I longing remind folks that the president’s team has already said, ‘There purpose be no retaliation.’ They’ve already been wrong,” Dimon said in the sound out. “If I was the president, I’d be a little ticked off at some of my advisers, to tell you the truth.”
Dimon about that the trade war’s expansion beyond China, with tariffs placed on U.S. accomplices in North America and Europe, has made a resolution “complex.”
“It raises the uncertainty a short bit,” Dimon said.
Read the full CNN Money interview here.