JPMorgan Chase CEO Jamie Dimon has surprisingly shifted his stance on tariffs, once calling them a “threat to the economy,” but now sees them as an “economic weapon” that can be used for national security. During a recent interview at the World Economic Forum’s annual conference in Davos, Switzerland, Dimon stated that if tariffs lead to some inflation, but are beneficial for national security, he is willing to accept it. His change of heart comes after President Trump announced plans to impose new tariffs on Canada, Mexico, and China. Dimon believes tariffs can be used as a tool to bring countries to the negotiating table.
Source: https://www.nytimes.com/2025/01/22/us/politics/jamie-dimon-jpmorgan-trump-tariffs.html