United States President Donald Trump told reporters in front of the White House on Wednesday that he watched JPMorgan Chase & Co. CEO Jamie Dimon when he was speaking to Fox Business in the morning.

"Dimon said something had to be done [about the issue of tariffs]," Trump said after announcing a 90-day delay on duties.

During the interview, Dimon called for fast progress on tariff negotiations to put the markets at rest, warning that recession would be a "likely outcome" of levies. "I hope what they really do is ... get those things done quickly," the JPMorgan CEO commented. He previously also warned that tariffs could push inflation up.