[Simone]

DONALD TRUMP IS THREATENING THE U.S.’S TOP TRADING PARTNERS WITH MAJOR TARIFFS. BUT FOR ANYONE WORRIED ABOUT REPERCUSSIONS, THE C-E-O OF THE WORLD’S LARGEST BANK HAS A LITTLE ADVICE: GET OVER IT.

FOR JPMORGAN CHASE CEO JAMIE DIMON, IT’S AN ABOUT-FACE. IN 2018, HE TOLD C-N-N TARIFFS DURING TRUMP’S FIRST TERM WOULD BE A “THREAT” TO THE ECONOMY. 

HE DOUBLED DOWN IN 2019, TELLING THE LOBBYING GROUP BUSINESS ROUNDTABLE TARIFFS “WOULDN’T BE POSITIVE.” THAT’S ACCORDING TO THE FINANCIAL TIMES. FAST FORWARD TO TRUMP’S SECOND TERM … DIMON HAD A FRESH TAKE WHILE TALKING WITH CNBC AT THE WORLD ECONOMIC FORUM IN DAVOS, SWITZERLAND … 

they are an economic tool … that’s it .. they’re an economic weapon depending how you use it and why you use it. And people argue. Is it inflationary? I would put in perspective that if it’s a little inflationary and it’s good for national security so be it. I mean get over it. 

DIMON DID NOT GET INTO THE DETAILS, SAYING THE OUTCOME DEPENDS ON HOW THE TARIFFS ARE IMPLEMENTED.

AFTER WINNING THE PRESIDENTIAL ELECTION, TRUMP PROMISED TARIFFS ON HIS FIRST DAY IN OFFICE, BUT THAT DIDN’T HAPPEN.

TRUMP TOLD REPORTERS MONDAY HE IS STILL CONSIDERING A 25 PERCENT TARIFF ON MEXICO AND CANADA, LIKELY TO GO INTO EFFECT FEBRUARY FIRST.

AS FOR CHINA, THE PRESIDENT SAID BEFORE TAKING OFFICE, TARIFFS ON CHINESE GOODS COULD BE 60 PERCENT OR MORE … INTENSIFYING AN ONGOING TRADE WAR. 

ON HIS SECOND DAY IN OFFICE, TRUMP SAID THEY’RE LOOKING AT A 10% TARIFF ON CHINA FOR THE TIME BEING.

IN A MEMO, TRUMP DIRECTED SEVERAL AGENCIES TO STUDY THE EFFECTS OF VARIOUS TARIFFS AND TRADE AGREEMENTS. 

HE TASKED THE U-S TRADE REPRESENTATIVE TO LOOK INTO WHETHER CHINA IS BREAKING AN EXISTING TRADE AGREEMENT WHICH COULD LEAD TO MORE TARIFFS. FOR SAN I’M SIMONE DEL ROSARIO – FOR UNBIASED NEWS COVERAGE OF BUSINESS, POLITICS AND MORE – DOWNLOAD THE STRAIGHT ARROW NEWS APP TODAY.