Jamie Dimon, the bank’s chief executive, said that trade war talk was more about “psyche” than “economics.”

“Look, it’s a worry,” he said. “But hopefully it gets resolved.”

Dimon said that there were genuine reasons for the U.S. to attempt to seek better terms of trade with China and other countries. Working with allies rather than imposing tariffs, however, would be a better tactic, Dimon said.