JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said trade wars triggered by the Trump administration’s tariff policies could stifle economic growth, reiterating comments he made when the bank reported earnings earlier this month.
“If you do another US$200 billion of tariffs and this national security thing about cars, I think that you’re getting pretty close to reversing some of the benefits you’ve seen in the economy,” Dimon said Thursday in an interview published Monday on CNN’s website.
In other highlights:
- Dimon said many of the issues Trump has raised are accurate, but Trump is trying to resolve them in the wrong way.
- It’s too early to know the effect the tariffs will have on the economy, according to Dimon, but the reversal of growth is “possible.”
- Dimon said dragging out talks over the North American Free Trade Agreement negotiations isn’t helpful. “We want NAFTA done,” he said. “To be torturing Mexico in this way, in my opinion, is dead wrong, and it should be fixed.”