Chase CEO Jamie Dimon tells people worried about tariffs and inflation to ‘get over it’
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‘National security trumps a little bit more inflation,’ CEO said at World Economic Forum. “I look at tariffs, they’re an economic tool, That’s it,” Dimon, who was paid $36 million in 2023, added. “They’re an economic weapon, depending on how you use it, why you use it, stuff like that. Tariffs are inflationary and not inflationary.”.
![[Officials in Canada, Mexico, and China have suggested Trump tariffs could necessitate retaliatory measures]](https://static.independent.co.uk/2025/01/21/16/e12156880f424132800d089734fb083d.jpg)
One of his fellow CEOs, Goldman Sachs boss David Solomon, had a similar take, telling the broadcaster, “Used appropriately, it can be constructive.”. This week, Trump has said a 10 percent tariff on Chinese goods and 25 percent border levies on Mexican and Canadian trade could all begin as soon as February 1st.
The president has framed the measures, which are actually scaled back compared to his campaign promises, as responses to the flow of undocumented migrants and fentanyl coming across U.S. borders. All three countries have said they may respond with their own trade measures and urged Trump to adopt a different course.
“We have always believed that there are no winners in a trade war or a tariff war,” foreign ministry spokesperson Mao Ning said in a daily briefing when asked about Mr Trump’s threat. Mexican President Claudia Sheinbaum struck a similar tone. “It’s always important to have a cool head,” she added, suggesting Mexico will respond “step by step” to U.S. tariffs.
