The head of America’s largest bank has ridiculed President Donald Trump’s negotiating tactics with China, saying the country is not likely to bow to U.S. pressure.
“I just got back from China last week. They’re not scared, folks,” Dimon told a crowd of politicians, executives, and economists at the Reagan National Economic Forum in California on Friday, Axios reports. “I would engage with China.”
Trump has been battling a trade war with the Asian giant in recent months, imposing tariffs of up to 145% on the importation of Chinese goods into the U.S. market. However, a “fast-deal” was struck with the country earlier this month, which reduced China’s retaliatory tariffs from 125 percent to 10 percent while U.S. tariffs were lowered to 30 percent. The deal is scheduled to last just 90 days while the two sides attempt to work out their differences.
The post Top Banker Calls BS On Trump’s Claim He’ll Make China Fold appeared first on The Daily Beast