Dimon was a member of the president's strategy and policy forum - a council of USA business leaders - which disbanded a year ago in the backlash to Trump's response to a white-supremacist rally in Charlottesville.
Trump tweeted that Dimon "doesn't have the aptitude or "smarts" to be president, adding that he's "a poor public speaker & nervous mess". "I've made a lot of bankers, and others, look much smarter than they are with my great economic policy".
Dimon has been CEO of JPMorgan, the biggest US bank, since 2005.More news: Good start carries Bengals past Ravens
The president has no public events on his schedule Thursday as he is said to be tracking developments with Hurricane Florence. However, he has backed Trump's efforts to get more favorable trade terms with China and other countries and said that Trump's tax cuts, along with some of his other efforts, have helped out the USA economy.
"I'm like a really smart person", he's said, and tweeted in 2013: "Sorry losers and haters, my I.Q.is one of the highest - and you all know it!"
More: Florence: Hurricane poses new test for Trump as he brushes off criticism over Puerto Rico.More news: Taylor Must Play Better Following Sunday's Tie
The Republican president, known for his acerbic insults on Twitter, was hitting back at Dimon for saying on Wednesday that he was smarter than Trump and could beat him in a White House race. I would be fine. He could punch me all he wants.
Hours later, Dimon walked his comments back: "I should not have said it".More news: Adrian Peterson scores 100th career rushing touchdown, ranks seventh all
Dimon nearly immediately realized that he was in the wrong realm and his company issued a statement retracting his comments. I'm not running for President.
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