Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

JPMorgan Chase CEO Jamie Dimon on Trump tariffs: ‘Get over it’

by admin January 23, 2025
January 23, 2025
JPMorgan Chase CEO Jamie Dimon on Trump tariffs: ‘Get over it’

JPMorgan Chase CEO Jamie Dimon said Wednesday that the looming tariffs that President Donald Trump is expected to slap on U.S. trading partners could be viewed positively.

Despite fears that the duties could spark a global trade war and reignite inflation domestically, the head of the largest U.S. bank by assets said they could protect American interests and bring trading partners back to the table for better deals for the country, if used correctly.

“If it’s a little inflationary, but it’s good for national security, so be it. I mean, get over it,” Dimon told CNBC’s Andrew Ross Sorkin during an interview at the World Economic Forum in Davos. “National security trumps a little bit more inflation.”

Since taking office Monday, Trump has been saber-rattling on tariffs, threatening Monday to impose levies on Mexico and Canada, then expanding the scope Tuesday to China and the European Union. The president told reporters that the E.U. is treating the U.S. “very, very badly” due to its large annual trade surplus. The U.S. last year ran a $214 billion deficit with the E.U. through November 2024.

Among the considerations are a 10% tariff on China and 25% on Canada and Mexico as the U.S. looks forward to a review on the tri-party agreement Trump negotiated during his first term. The U.S.-Mexico-Canada Trade Agreement is up for review in July 2026.

Dimon did not get into the details of Trump’s plans, but said it depends on how the duties are implemented. Trump has indicated the tariffs could take effect Feb. 1.

“I look at tariffs, they’re an economic tool, That’s it,” Dimon said. “They’re an economic weapon, depending on how you use it, why you use it, stuff like that. Tariffs are inflationary and not inflationary.”

Trump leveled broad-based tariffs during his first term, during which inflation ran below 2.5% each year. Despite the looming tariff threat, the U.S. dollar has drifted lower this week.

“Tariffs can change the dollar, but the most important thing is growth,” Dimon said.

Dimon wasn’t the only Wall Street CEO to speak of tariffs in a positive light.

Goldman Sachs CEO David Solomon, also speaking to CNBC from Davos, said business leaders have been preparing for shifts in policy, including on trade issues.

“I think it turns into a rebalancing of certain trade agreements over time. I think that rebalancing can be constructive for U.S. growth if it’s handled right,” Solomon said. “The question is, how quickly, how thoughtfully. Some of this is negotiating tactics for things over than simply trade.”

“Used appropriately, it can be constructive,” he added. “This is going to unfold over the course of the year, and we have to watch it closely.”

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Five Key Market Ratios Every Investor Should Follow
next post
With Trump digital coins, billions of dollars — and crypto’s credibility — are at stake

Related Posts

GM expands North America recall for potentially faulty...

March 2, 2024

OpenAI in talks to pay about $3 billion...

April 17, 2025

Lara Trump to host weekend show on Fox...

February 7, 2025

Novo Nordisk to build $4.1 billion North Carolina...

June 26, 2024

Higher tax filing costs could take a bite...

February 3, 2024

Social Security Administration to expand access to certain...

May 13, 2024

Star witness says FTX head Sam Bankman-Fried told...

October 11, 2023

Burger King must face lawsuit claiming its Whoppers...

August 31, 2023

Boeing, NASA say Starliner astronaut launch will move...

May 26, 2024

More travelers risk booking hotel rooms on sites...

February 23, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

    • Editor’s Picks: Gold Faces Bumpy Week on Trade Tensions, Platinum Stages Breakout

    • Run Your Stock Portfolio Like a Pro Sports Team

    • Leadership Rotation Could Confirm Corrective Phase

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

    Categories

    • Business (1,223)
    • Investing (2,504)
    • Politics (3,699)
    • Stocks (1,616)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved