Although Jamie Dimon, chairman and chief executive officer of J.P. Morgan Chase claimed that the dispute over trade and escalating tariffs between the United States and China is more aptly described as a "trade skirmish" rather than a trade war, there haven’t been obvious signs that the trade dispute will stop anytime soon. The U.S. government announced in September that it will increase tariffs by 10% on $200 billion worth of Chinese imported goods and will further increase this to 25% by the end of the year.