Jamie Dimon: Tariffs for National Security, Inflation Be Damned

In a surprising shift from his previous stance, JPMorgan Chase CEO Jamie Dimon has thrown his support behind President Donald Trump's tariff proposals, arguing that national security trumps potential inflationary impacts. Dimon, known for his candid and often contrarian views, believes that tariffs can be used strategically to address economic imbalances and protect American interests.



Dimon's support for Trump's tariffs aligns with his previously stated concerns about inflation and economic stability. In a 2025 interview, Dimon said, "If it's a little inflationary but it's good for national security, so be it. I mean, get over it." He believes that tariffs can be used effectively to bring trading partners to the negotiating table and potentially result in more favorable trade terms for the U.S. (Source: "JPMorgan’s Dimon Says US Stock Prices Are ‘Kind of Inflated’", CNBC, 2025)

Dimon's pragmatic view of tariffs is consistent with his earlier concerns about the long-term risks of geopolitical tension and global sovereign finances. He has expressed worries about deficit spending and the related question of whether inflation will go away, indicating that he is aware of the potential inflationary impact of tariffs. However, he seems to prioritize national security and addressing economic imbalances when considering the use of tariffs as a negotiating tool. (Source: "JPMorgan Chase CEO Jamie Dimon on Trump’s Tariffs: ‘Get Over It’", Business Insider, 2025)

In contrast to his previous stance on tariffs during Trump's first term, Dimon now views them as a potential solution to address some of the lopsided economic policies that have devastated middle-American communities. He acknowledges that tariffs can be inflationary but suggests that they can be used properly to help resolve some of those issues. (Source: "JPMorgan CEO Jamie Dimon talks tariffs: ‘Get over it’", startupbusinessready.com, 2025)

Dimon's support for Trump's tariffs reflects his belief that they can be used strategically to address economic imbalances and protect national security, even if they have some inflationary impact. His pragmatic approach to tariffs aligns with his broader concerns about economic stability and the need for pro-growth policies to reduce deficits and debt.



Dimon's perspective on tariffs could influence JPMorgan Chase's investment strategies and risk management in the near future. The bank might adopt a more cautious approach to investments in sectors heavily reliant on international trade, strengthen hedging strategies to protect against inflation, and enhance geopolitical risk assessment. Additionally, the bank might engage with clients and stakeholders to share its concerns about the potential risks associated with tariffs and help them develop contingency plans.

In conclusion, Jamie Dimon's support for Trump's tariffs demonstrates his pragmatic approach to addressing economic imbalances and protecting national security, even if they have some inflationary impact. As the U.S. economy continues to evolve, investors and businesses should stay informed about the potential implications of tariffs and adapt their strategies accordingly.