JPMorgan Chase CEO Jamie Dimon acknowledged President Trump’s tariff policy is causing uncertainty for businesses, which is “not a good thing.”
“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.”
Earlier this year, Dimon voiced support for Trump’s tariff plan on Canada, Mexico and China, suggesting it would be beneficial for U.S. national security purposes.
“If it’s a little inflationary, but it’s good for national security, so be it. I mean, get over it,” he said at the time, while arguing tariffs can be an “economic weapon” depending on how they are used.
Trump introduced placing a 25 percent tariff on Mexico and Canada shortly after taking office. He then came to an agreement with Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau to pause them for a month, before they officially went into effect in early March.
The president then exempted car parts from the tariffs for another month after concerns emerged from automakers and of an increasing trade war.
He disputed that there was inconsistency after he repeatedly threatened tariffs, yet later made changes, calling it “flexibility” and his ability to “adjust.”
Even as the stock market signaled broad concern for the whiplash on tariffs, Trump has doubled down on his tariff threats, touting them as a negotiating tool.
Canada placed electricity tariffs on the U.S. in response to Trump, but later backed off after talking with officials about broader trade.
