Jamie Dimon Backs Trump's Tariffs
JPMorgan Chase CEO Jamie Dimon said Wednesday the looming tariffs that President Donald Trump is expected to slap on U.S. trading partners could be viewed positively.
JPMorgan Chase CEO Jamie Dimon said Wednesday that he and Tesla CEO Elon Musk have “hugged it out” and resolved their differences, after Dimon’s bank sued the tech billionaire’s electric vehicle
Jamie Dimon, the billionaire head of the U.S.’ biggest bank, lauded Tesla CEO Elon Musk, the richest man on the planet and a key part of President Donald Trump’s administration, on Wednesday, squashing a long-running beef between the billionaires’ companies as Dimon becomes the latest billionaire warming to Musk or Trump.
Experts have warned that Trump’s tariffs, which he’s said could also include a 10 percent tariff on all foreign goods, could send domestic inflation through the roof and trigger trade wars abroad. For private sector leaders, the cost of doing business would likely rise—increases which would then probably be passed down to consumers, too.
The JPMorgan Chase chief executive, who had warned of the negative effect of tariffs, said they could be justified for national security reasons.
CEO Jamie Dimon praised Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Wednesday and indicated that the two billionaires have patched holes in their relationship.
JPMorgan Chase (JPM) chief Jamie Dimon said the use of tariffs, an economic weapon, may trigger some inflation, but national security is more important than "a bit more inflation," according to a media report.
JPMorgan Chase CEO Jamie Dimon on Wednesday downplayed concerns about new tariffs from the Trump administration: 'If it's a little inflationary, but it's good for national security, so be it.'
JPMorgan Chase CEO Jamie Dimon said tariffs are one way to get other countries to address unfair trade balances and boost national security.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said there are signs that the US stock market is overheated.
JPMorgan Chase CEO Jamie Dimon on Wednesday called the U.S. stock market inflated and said that he felt more cautious than others in the business world. He noted risks from deficit spending, inflation and geopolitical upheaval.