CNN reports comments from JP Morgan Chase CEO Jamie Dimon, as he expresses his concerns over the US economic outlook amid the US President Trump fuelled trade wars.
Key Quotes:
Worried the economy’s momentum could be derailed by President Donald Trump’s trade wars.
“If you do another $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”.
It’s too early to know whether tariffs will undo the economy’s gains, but that such a reversal is “possible.”
Trump has “raised serious issues that are pretty accurate.” But his tactics pose risks, and have the potential to dial back gains from corporate tax cuts.
“I would remind folks that the president’s team has already said, ‘There will be no retaliation.’ They’ve already been wrong,”
“If I was the president, I’d be a little ticked off at some of my advisers, to tell you the truth.”
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