Despite fears of a global trade war and domestic inflation, JPMorgan CEO Jamie Dimon told CNBC that tariffs imposed by President Trump could be viewed positively if used strategically to protect American interests and secure better trade deals.
JPMorgan CEO Jamie Dimon told CNBC on Wednesday the looming tariffs that President Donald Trump is expected to slap on U.S. trading partners could be viewed positively.
"If it's a little inflationary but it's good for national security, so be it. I mean, get over it," Dimon said during an interview at the World Economic Forum in Davos.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.
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.Pacific Palisades
TARIFFS TRADE WAR INFLATION NATIONAL SECURITY ECONOMICS
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