J.P. Morgan Chase CEO Jamie Dimon said that the escalating U.S.-China trade dispute is a "real issue" that could damage corporate confidence.
"I think trade is a real issue," Dimon said Tuesday at a conference in New York. "Trade has gone from being a skirmish to being far more important than that. If this goes south in a bad way, and you have other surprises, that could be part of the thing that changes confidence, changes people's willingness to invest."
Dimon, the longest-tenured CEO among the U.S. megabanks, was answering a question about the risks that could end the current economic expansion. The next recession will probably be caused by a confluence of factors that catch investors off guard, like impacts from the trade war or rising interest rates, he said. While U.S. growth could be in the last legs of its growth, that period could last years, he said.