Jamie Dimon, the CEO of JP Morgan Chase, stated that it was possible for an economy to continue the process of expansion for a period of one to three years, but the policy for trade introduced by Trump government might act as a hurdle to the process. Jamie Dimon is also the chairman of Business Roundtable, a group of CEOs of major US companies.
He commented on the recent quarterly survey of Business Roundtable and stated that the survey is highlighting the fears a lot of CEOs have regarding the probable negative impact of the initiatives taken by Trump for trade. Subsequently, there was a drop in Economic Outlook Index of Business Roundtable, which is the first decrease in last two years from its unprecedented levels.
Dimon highlighted that trade is an extremely complicated thing and that for trade, policies and slogans tend to be very separate and that it was the desire of every person to wish for a free and unbiased trade. He also disapproved the remarks of US Trade Representative Robert Lighthizer where he said that the approach taken by the pro-business community has been responsible for the present trade debt and have been a source of pain to the people of America.
Dimon also assured that the economy of United States has a lot of strength and breadth and can carry on with the process of recuperation for upcoming one to three years. But one of the matters of concern is the trade war and it is giving rise to a lot of uncertainty, which, in turn, might be harmful to the economy.
The president and chief executive of Roundtable, Joshua Bolten, stated that although the organization has a positive connection with the government, the government is not paying heed to the issues being faced by them related to trade.