Businesses worldwide and mainstream economists are fretting about higher prices as President Donald Trump unveils his tariff-heavy economic strategy. But Jamie Dimon, CEO of the world's largest bank, believes there's perhaps too much worrying and not enough faith in Trump's plan.
Tariffs are "an economic tool" or "an economic weapon," depending on how they are used, said Dimon, head of JPMorgan Chase CEO, in an interview Wednesday with CNBC from Davos, Switzerland, where the World Economic Forum is taking place. "I would put in perspective: If it's a little inflationary, but it's good for national security, so be it. I mean, get over it."
Currently, Trump is threatening a 10 percent across-the-board tariff on Chinese goods imported to the U.S. and 25 percent tariffs on Mexican and Canadian goods, come Feb. 1.
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