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Mr. Sparkle

(3,211 posts)
Wed Jan 22, 2025, 12:24 PM Jan 22

Jamie Dimon says Trump's tariff policy is positive for national security so people should 'get over it'

Source: CNBC

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, 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 president told reporters that the EU 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 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.

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 big 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.”

Read more: https://www.cnbc.com/2025/01/22/jamie-dimon-on-trumps-tariffs-get-over-it.html

40 replies = new reply since forum marked as read
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Jamie Dimon says Trump's tariff policy is positive for national security so people should 'get over it' (Original Post) Mr. Sparkle Jan 22 OP
Well he would know. Autumn Jan 22 #1
Dimon can go fuck off, and keep fucking off over the edge of Fuck Off Cliff sakabatou Jan 22 #2
Hey Jamie, remember when the American taxpayers bailed your ass out? I don't believe you and your buddies thanked us. Hotler Jan 22 #3
tRump is not competent to use the "economic tool", Mr. DimOne. . . . . .nt Bernardo de La Paz Jan 22 #4
Jamie Dimon joins the anti-society Trump Oligarchs delisen Jan 22 #5
You mis-spelled his name twice (not a typo). Do you have something going on with the jewish name "Jaime"? Bernardo de La Paz Jan 22 #6
No. Thanks for your alert. delisen Jan 22 #16
Thanks. Attending to detail is an occupational hazard of my line of work :) . . . . nt Bernardo de La Paz Jan 22 #27
What the heck are you trying to say? Butterflylady Jan 22 #20
I was wondering what the heck the poster was trying to say Bernardo de La Paz Jan 22 #29
Deregulation? Mike 03 Jan 22 #13
When, in the last ten or so years, has this man ever made sense ni one of his policy proclamations? Scrivener7 Jan 22 #7
How did Jamie Dimon say anything with Trump's dick in his mouth? Ray Bruns Jan 22 #8
Yeah, so what if poor people have higher prices, get over it... ExciteBike66 Jan 22 #9
Same propaganda as 'oligarch 1' Justice matters. Jan 22 #19
how long before MAGA turns their anger against the real Globalists lapfog_1 Jan 22 #10
Don't hold your breath durablend Jan 22 #14
Another rich greedy MAGA SOB lecturing us about national security. Irish_Dem Jan 22 #11
Yeah, I'm pretty sure Dimon was like this before Chump was ever on the scene FakeNoose Jan 22 #23
Make no mistake, the oligarchs have merged with the MAGAs. Irish_Dem Jan 22 #24
That's exactly my point - the billionaires are telling Chump what to do FakeNoose Jan 22 #25
He's well aware that his fat hand will be the first filled with free money when everything goes to sh7t wolfie001 Jan 22 #12
Post removed Post removed Jan 22 #15
The more I think about this, the angrier I am Mike 03 Jan 22 #17
Impacts nowforever Jan 22 #18
He seem to have some sort of genius for evil Dark n Stormy Knight Jan 22 #30
Omgwtf live love laugh Jan 22 #21
IOW, pay higher prices for shit and shut up about it. Yavin4 Jan 22 #22
Aente vre Dimonopoule zorbasd Jan 22 #26
How much did you have to pay Trump to spew that Jamie? travelingthrulife Jan 22 #28
Dimon is correct, tariffs are an economic tool Deminpenn Jan 22 #31
I am seldom at a loss for words... GiqueCee Jan 22 #32
FO Billionaire asshole Hassler Jan 22 #33
Yup expect the cost of living to rise 25%. Get over it, Jeez. republianmushroom Jan 22 #34
Actually, we need to "get over" Jamie Dimon et al. dchill Jan 22 #35
I'm still trying, as a manufacturer, to get over the 10% tariffs truthisfreedom Jan 22 #36
Recessions and financial stress are great for banks IbogaProject Thursday #37
This was literally Biden's tariff policy and Dimon was a Harris supporter. mathematic Thursday #38
Exactly. Deminpenn Thursday #40
What would be positive for national security would be to strip you usurers of your wealth iemanja Thursday #39

Hotler

(12,567 posts)
3. Hey Jamie, remember when the American taxpayers bailed your ass out? I don't believe you and your buddies thanked us.
Wed Jan 22, 2025, 12:35 PM
Jan 22

Shut up and go grab your shine box.

delisen

(6,727 posts)
5. Jamie Dimon joins the anti-society Trump Oligarchs
Wed Jan 22, 2025, 12:42 PM
Jan 22

Guess Dimon sees a big payday in screwing the citizenry.

Expect big bank fees and 100% interest on credit cards .

Or maybe there is a Jaime/@Chase crypto coin in the works

Bernardo de La Paz

(52,062 posts)
6. You mis-spelled his name twice (not a typo). Do you have something going on with the jewish name "Jaime"?
Wed Jan 22, 2025, 12:45 PM
Jan 22

delisen

(6,727 posts)
16. No. Thanks for your alert.
Wed Jan 22, 2025, 01:08 PM
Jan 22

I always appreciate someone correcting my errors and always appreciate those whose gift for accuracyhan mine. and attention to detail are greater than mine

Butterflylady

(4,094 posts)
20. What the heck are you trying to say?
Wed Jan 22, 2025, 01:19 PM
Jan 22

Just because someone doesn't spell a name correctly. Heck I do that all the time.

Bernardo de La Paz

(52,062 posts)
29. I was wondering what the heck the poster was trying to say
Wed Jan 22, 2025, 02:07 PM
Jan 22

We got it sorted out and it is cool.

Relax. We all make mistakes. Repeating a mistake twice in one brief post is not usually a typographical error. In this case it seems to have been an atomic typo.

Mike 03

(17,928 posts)
13. Deregulation?
Wed Jan 22, 2025, 01:06 PM
Jan 22

I'm also trying to figure out why a guy as intelligent as Dimon is throwing himself behind Trump. And this is not new. Going back even a year he was on Bloomberg Radio saying he was leaning towards supporting Trump. Then, according to Forbes, he privately backed Kamala Harris.

He sounds like a bloody fool when he talks about the bright side of tariffs. No economist believes he is this dumb. So I'm leaning towards your idea that he sees some big opportunity coming up with crypto, or as a result of some kind of further bank deregulation. (In addition to tax cuts, I guess too).

Scrivener7

(53,683 posts)
7. When, in the last ten or so years, has this man ever made sense ni one of his policy proclamations?
Wed Jan 22, 2025, 12:49 PM
Jan 22

I'm at a loss.

Justice matters.

(7,713 posts)
19. Same propaganda as 'oligarch 1'
Wed Jan 22, 2025, 01:19 PM
Jan 22

Struggles will only be "temporary" ... so, so what... eat cat food, peasants...

lapfog_1

(30,409 posts)
10. how long before MAGA turns their anger against the real Globalists
Wed Jan 22, 2025, 12:51 PM
Jan 22

including Trump and Elmo and people like Jamie F'ing Dimon.

And then they all turn into Luigi Mangione.

They are all heavily armed, think they are above the law... and foolishly think Trump is on their side.

durablend

(8,101 posts)
14. Don't hold your breath
Wed Jan 22, 2025, 01:06 PM
Jan 22

They'll be told by their masters "THE LEFT DID THIS TO YOU" and they'll nod and obey.

FakeNoose

(36,394 posts)
23. Yeah, I'm pretty sure Dimon was like this before Chump was ever on the scene
Wed Jan 22, 2025, 01:37 PM
Jan 22

I wouldn't call Jamie Dimon a MAGA. He's one of the original "American oligarchs," before we even thought in such terms.

The thing about Chump's tariffs is that they're really nothing more than an excise tax that's being used to punish certain groups that are on Chump's "naughty/disloyal" list.

Do the billionaires care about paying taxes? Of course not, none of this affects them. In some cases it will help them make more money. Some American companies that were formerly profitable, will be up for grabs in a couple of years. Well who will be doing the grabbing? The one-per-centers of course. This is how late-stage capitalism works.

Irish_Dem

(62,144 posts)
24. Make no mistake, the oligarchs have merged with the MAGAs.
Wed Jan 22, 2025, 01:39 PM
Jan 22

They are one and the same now.

And also make no mistake, Trump's policies are most likely designed to make
his billionaire minders happy.

wolfie001

(3,965 posts)
12. He's well aware that his fat hand will be the first filled with free money when everything goes to sh7t
Wed Jan 22, 2025, 01:01 PM
Jan 22

He's a nasty m6therf6cker.

Response to Mr. Sparkle (Original post)

Mike 03

(17,928 posts)
17. The more I think about this, the angrier I am
Wed Jan 22, 2025, 01:12 PM
Jan 22

Jamie Dimon is not this stupid, simpleminded imbecile. He's been searching for excuses to back Trump since at least last winter, and it has to be tax cuts and deregulation. But I wish he would just be honest instead of trying to find these supernatural justifications which NO economist or experienced investor could ever credibly believe. He might be able to get away with this on CNN, addressing an audience that doesn't know so much about banking, investment, tariffs, economics. He's just making a goddamned fool of himself in front of his peers.

nowforever

(426 posts)
18. Impacts
Wed Jan 22, 2025, 01:17 PM
Jan 22

If China decided to not sell rare earth minerals to the US it would collapse the technology based part of our economy. China controls most of world's rare earth minerals and their refinement, it also controls a number of other raw materials and products we cannot obtain anywhere else. Mexico and Canada are critical trading partners and screwing them is like punching yourself in the face to win a fight. This is the kind of stupidity that brought on the Great Depression. Of course I believe 90% of what the Orange Idiot says is bullshit and just designed to manipulate people, it's just a game to him and he has no concern or understanding of its real world impacts. They voted in an idiot and now we must face the consequences.

Dark n Stormy Knight

(10,112 posts)
30. He seem to have some sort of genius for evil
Wed Jan 22, 2025, 02:18 PM
Jan 22

and for self-aggrandizement & self-enrichment. In most other areas of knowledge he is a fucking moron.

I cannot understand how anyone who listens to him speak cannot see that he is entirely full of shit. Reminds me very much of a student who didn't even open the book giving an oral book report.

Yavin4

(36,836 posts)
22. IOW, pay higher prices for shit and shut up about it.
Wed Jan 22, 2025, 01:23 PM
Jan 22

Because now that we've conquered Western democracy, the lone challenge to our global rule is the emergence of China.

zorbasd

(278 posts)
26. Aente vre Dimonopoule
Wed Jan 22, 2025, 01:57 PM
Jan 22

malakizmeno kormi kai si.


Translation;
Oh com'on Dimon, fapped up corpse of yours...

Deminpenn

(16,435 posts)
31. Dimon is correct, tariffs are an economic tool
Wed Jan 22, 2025, 02:20 PM
Jan 22

IF done thoughtfully and are targeted.

The problem is Trump is ham-fisted and gives no forethought to any of his policy pronouncements.

Also, Trump was elected because his voters were irked by inflation. They probably won't like a new round of inflation no matter how much national security is obtained by tariffs.

GiqueCee

(1,617 posts)
32. I am seldom at a loss for words...
Wed Jan 22, 2025, 04:53 PM
Jan 22

... but Mr. Dimon is never at a loss when it comes to spewing self-serving bullshit. He is a textbook sociopath who has zero concern for the adverse effects that predatory capitalism in general, and his bank's dishonest policies in particular, have on those of us who aren't billionaires.

One thing that he and his ilk should never forget: There are far more of us than there are of you, and you can only abuse people for so long before they say, ENOUGH!

I think that line has already been crossed.

truthisfreedom

(23,344 posts)
36. I'm still trying, as a manufacturer, to get over the 10% tariffs
Wed Jan 22, 2025, 08:33 PM
Jan 22

On Chinese electronic components from last time, this goofball was in office.

Here’s his plan. He puts tariffs on all these goods coming in from other countries. US consumers have to pay all of the tariffs, despite all of his lies. He uses the tariffs to offset tax cuts for the very, very wealthy. The next president is stuck with his tariffs because removing them destroys our ability to pay the national debt, since we’re not collecting enough taxes. That’s what he did to Joe.

mathematic

(1,542 posts)
38. This was literally Biden's tariff policy and Dimon was a Harris supporter.
Thu Jan 23, 2025, 02:10 PM
Thursday

Was Biden MAGA when he raised tariffs on China, most of SE Asia, and even Canada?

Oh, but a banker says it and suddenly it's all MAGA this and MAGA that. At least Dimon is actually describing the tariffs accurately, as economic weapons that can be harmful but can serve non-economic purposes, like national security.

Deminpenn

(16,435 posts)
40. Exactly.
Thu Jan 23, 2025, 02:58 PM
Thursday

Dimon accurately described how tariffs can be effective, if used correctly and targeted.

None of the above applies to Trump's ideas on tariffs.

iemanja

(55,306 posts)
39. What would be positive for national security would be to strip you usurers of your wealth
Thu Jan 23, 2025, 02:51 PM
Thursday
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