JPMorgan Chase & Co. CEO Jamie Dimon on Wednesday weighed in on President Trump's proposed tariffs on Canada, Mexico and China, saying the national security benefits outweigh the inflationary effects. He said he was deaf.
“Even if it's a little bit of inflation, if it's good for national security, then that's fine. So get over it,” Dimon said. CNBC He said this in an interview at the World Economic Forum.
“National security takes precedence over inflation a little bit more.”
Dimon also said he views tariffs as an “economic tool.”
“That’s it,” he said.
“Depending on how they are used and why they are used, they become economic weapons. Tariffs are inflationary, but not inflationary.”
Dimon's comments came as some economists argue that tariffs would raise prices for U.S. consumers and harm the country's economy.
In an October interview with Bloomberg, President Trump said high tariffs would encourage foreign companies to move into the United States.
“You know, there's another theory: Tariffs are so high, so horrible, so disgusting that they're going to be imposed soon,” Trump said. said To an audience at the Chicago Economic Club.
“The higher the tariffs, the more likely companies are to come to the U.S. and build factories in the U.S. so they don’t have to pay tariffs.”
Goldman Sachs CEO David Solomon told CNBC at a forum in Davos, Switzerland, that he has some confidence in President Trump's negotiating tactics, but remains unsure about the timeline. He said he was concerned.
“I think rebalancing could be constructive for U.S. growth if handled properly. The question is how quickly and how thoughtfully,” Solomon said.
“It can be constructive if used properly.”
“This situation will unfold over the course of the year. We need to watch it closely,” he added.
