JPMorgan Chase CEO Jamie Dimon, who has identified as a Democrat, had some rare words of praise for President Donald Trump on Thursday when he complimented the commander in chief on the positive results of his trade and tax policies.
“I think we have a tax bill that created a very stable tax environment, which is internationally competitive,” Dimon said during an interview with CNBC.
“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,” he continued. “And that’s where your people completely miss sometimes.”
“And then we started tariffs, we didn’t know what they were going to be,” he 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 [will] move manufacturing back here. So you know, so far, so good!”
He also highlighted his very communicative relationship with the White House and how they are wise to work with business leaders when crafting their agenda.
“We reach out to the Administration all the time, they reach out all the time. I think that’s a very good thing,” Dimon explained. “Collaboration works, and fighting does not. And that collaboration has to be: government, business, civic society.”
DIMON: “We reach out to the Administration all the time, they reach out all the time. I think that’s a very good thing… collaboration works and fighting does not — and that collaboration has to be government, business, civic society.” pic.twitter.com/y9hri9Dk9X
— Rapid Response 47 (@RapidResponse47) July 31, 2025
Do you agree with Trump’s trade strategy?
This is the same man who, back in 2023, said the government should use eminent domain to seize private property in the name of fixing the alleged climate crisis.
What a difference two years can make.
This just proves that Trump’s approach of “America first” is having an effect at all levels.
Average citizens are benefiting, while even wealthy CEOs seem happy. It appears Trump is spreading the love all around.
It’s also noteworthy that back in April, Dimon wrote in a memo to shareholders that: “The recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession. And even with the recent decline in market values, prices remain relatively high.”
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 … Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth.”
That isn’t the case anymore. In fact, it might never have been the case.
The recent GDP numbers showed growth for the second fiscal quarter at 3 percent, which most of the media painted as a massive win for the White House.
Like so many before him, Dimon had to admit Trump is doing a good job and helping to create wealth — and stability — for the entire nation.
The media was forced to cover it. Americans are feeling so good about the economy that even CNN took notice, and now business leaders are fully getting behind the president.
All in all, not a bad month for Trump and his administration.
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