Posted on 01/23/2025 6:22:57 AM PST by lasereye
JPMorgan CEO Jamie Dimon told CNBC on Wednesday that 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, Switzerland.
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, Switzerland. “National security trumps a little bit more inflation.”
Since taking office, 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 U.S. last year ran a $214 billion deficit with the EU 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 Agreement is up for review in July 2026.
“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.”
(Excerpt) Read more at cnbc.com ...
A lot of parts made in China go into our weapons systems. Not good.
From the first time around;
https://www.bloomberg.com/news/articles/2018-11-19/china-is-paying-for-most-of-trump-s-trade-war-research-says
Some protectionism is needed for national security, but it’s not nearly as extensive as the economic protectionists would have us believe.
Inflationary pressure on goods from China will be offset by deflationary pressure from cheap American energy.
During obama, JPMorgan was begging Soros to be their CEO.
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