JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon has emerged as a critical voice on President Donald Trump‘s tariff policies, acknowledging legitimate concerns while cautioning against excessive measures that could isolate the U.S. economy.
What Happened: “I thought it was too large, too big and too aggressive when it started,” Dimon told Fox in an interview released Thursday, describing Trump’s initial tariff approach as part of a “master plan to get people to the table.”
Despite these reservations, the Wall Street veteran defended the administration’s fundamental goal. “It’s ok to say if it’s unfair [and] we want to fix it,” Dimon stated, suggesting the White House is justified in addressing perceived trade imbalances.
The banking executive, who earned $39 million in 2024, has maintained that tariffs would likely prove only “modestly inflationary” with potential to deliver “good stuff” for the economy.
Regarding the recent U.K.-U.S. trade agreement, Dimon welcomed progress while noting it represents just a preliminary step. “Any progress is good,” he said, also expressing satisfaction with improving relations with China, Japan and Taiwan.
When asked what advice he would offer Trump, Dimon recommended: “Keep doing what you’re doing now” on border security, while encouraging focus on immigration reform, pro-growth policies, deregulation and tax reform. On tariffs, he advised: “Just make progress now, country by country, tariff by tariff.”
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