Jimmy Damon says that Trump’s tariff was “very aggressive”, warning us of the dangers of going alone without measuring the trade strategy – Jpmorgan Chase (NYSE: JPM)
Jpmorgan Chase & Co. Jpm CEO Jimmy Damon He emerged as a decisive voice on the president Donald TrumpCustoms tariff policies, while recognizing legitimate concerns with caution against excessive measures that can isolate the American economy.
What happened: “I thought it was very big, very bigger and very aggressive when he started,” Dimon He said Fox was released in an interview on Thursday, describing the approach of Trump’s initial tariff as a “major plan to make people to the table”.
Despite these reservations, the veteran at Wall Street defended the primary goal of the administration. “There is nothing wrong with saying if this is not fair [and] We want to fix it. ”Damon said, indicating that the White House has something to justify in dealing with the imbalances of trade.
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Why do it matterDimon comments come amid the escalating market concerns about the effects of customs tariffs. fort founder Ken Griffin He recently warned that the policies “launched” the era of patronage capitalism “, while JPM itself raised the chances of stagnation to 60 % of 40 %, noting the supply chain disorders. The main ports reports on Chinese shipments” stopped mainly “.
The banking executive, who received $ 39 million in 2024, confirmed that the customs tariff is likely to prove only “modest inflation” with the possibility of providing “good things” to the economy.
Regarding the last American trade agreement and the United Kingdom, Damon welcomed the progress that it represents just an initial step. He said, “Any good progress,” expressing Reza about improving relations with China, Japan and Taiwan.
When asked about Trump’s advice, Damon recommended: “Continue to do what you are doing now” on border security, while encouraging focus on immigration reform, growth pro -growth policies, abolition of restrictions, and tax reform. On the customs tariff, he advised: “Just progress now, the country by country, the tariff with the tariff.”
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Disintegration: This content was partially produced with the help of artificial intelligence tools and was reviewed and published by Beenzinga editors.
