Jamie Dimon changes tune on tariffs: ‘Uncertainty is not a good thing’
CNN
Two months ago, JPMorgan Chase CEO Jamie Dimon defended President Donald Trump’s tariff policy with a curt message: “Get over it.” But with stock markets lower and cracks appearing to form in the US economy, Dimon himself might not be over it.
Two months ago, JPMorgan Chase CEO Jamie Dimon defended President Donald Trump’s tariff policy with a curt message: “Get over it.” But with stock markets lower and cracks appearing to form in the US economy, Dimon himself might not be over it. “I don’t think the average American consumer who wakes up in the morning and goes to work… changes what they’re going to do because they read about tariffs,” Dimon said in an interview with Semafor on Wednesday. “But I do think companies might,” he added. “Uncertainty is not a good thing.” Dimon’s tempered tone on tariffs comes after the CEO of America’s largest bank said to “get over it,” when discussing tariffs at the World Economic Forum in Davos, Switzerland. He said they could be “an economic tool” or “an economic weapon,” depending how they’re used. “I would put in perspective: If it’s a little inflationary, but it’s good for national security, so be it,” Dimon said in an interview with CNBC at the time. Since then, Trump’s on-and-off tariff policy has caused volatility in the stock market. Although broader markets rebounded on Wednesday, the S&P 500 was still down more than 7% over one month.
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