‘So Far, So Good!’ Jamie Dimon Gives Props to Trump on ‘Thoughtful’ Tariffs

JPMorgan Chase CEO Jamie Dimon — who was previously a critic of President Donald Trump’s tariffs — is now giving the president credit for the rollout.

In an interview on CNBC’s Market Movers Thursday, the financial titan gave Trump good grades not only on tariffs — but on the recently-passed “Big, Beautiful” bill.

“I think we have a tax bill that created a very stable tax environment, which is internationally competitive,” Dimon said. “So I think it’s really important that people should understand if the United States has a non-international competitive tax system, it will be bad for the people of the United States — and believe it or not, particularly lower-income people. And that’s where people completely miss sometimes.”

“And then we started tariffs, we didn’t know what they were going to be,” Dimon added. “And now we kind of know, and they’re more moderate, and thoughtful, and more carefully done, and hopefully they’ll help some companies export. Maybe some people move manufacturing back here. So far, so good!”

That’s a different position than Dimon had as recently as four months ago. Back in April, Dimon sounded the alarm about the prospect of a recession due to the tariffs.

“The recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession,” Dimon wrote in a memo to JPMorgan Chase shareholders. He added, “Whatever you think of the legitimate reasons for the newly announced tariffs—and, of course, there are some—or the long-term effect, good or bad, there are likely to be important short-term effects. As for the short-term, we are likely to see inflationary outcomes, not only on imported goods but on domestic prices, as input costs rise and demand increases on domestic products. How this plays out on different products will partially depend on their substitutability and price elasticity. Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth.”

Watch above, via CNBC.