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Jamie Dimon: Tariffs can reverse the economic rise of Trump

Jamie Dimon

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Chief Executive Officer of J.P. Morgan made a mixed review of President Trump's economic policy.

"If other $ 200 billion of tariffs are imposed, I think we will come close to reversing some of the benefits that you have achieved in the economy," Dimon said.

Second-quarter gross domestic product will be released on Friday, with expectations for 3.8% growth. This is an increase from the two percent reported in the first quarter.

So far, the US has set tariffs for Chinese products for just $ 34 billion. The White House is undergoing a two-month review for the second round of $ 200 billion. Dimon believes Trump has "raised serious questions that are quite accurate" when it comes to dealing with China, but has questioned the next steps of the US president.

"I would like to recall what Trump's team said:" There will be no vengeance. " "They were wrong," Dimon said.

Source: CNBC

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