JPMorgan CEO Jamie Dimon calls Trump's Tariffs: 'Too large, too big, too aggressive … but part of a master plan to …'

JPMorgan Chase CEO Jamie Dimon criticized President Donald Trump 's initial tariff strategy while acknowledging the legitimacy of addressing trade imbalances. In an interview with Fox released Thursday, Dimon described the administration's approach as "too large, too big, and too aggressive when it started."

Despite his concerns, Dimon recognized the tariffs as "part of a master plan to get people to the table" and defended the administration's right to address unfair trade practices. "It's OK to say if it's unfair [and] we want to fix it," Dimon said.

The Wall Street veteran, who earned $39 million last year, has positioned himself as a critical friend to the administration, offering a more balanced view than many other financial leaders.

Any progress is good, says Dimon
Dimon expressed cautious optimism about recent diplomatic developments, particularly the newly announced UK-US trade agreement. "I am very happy it took place," he said, while noting these are only "deals in principle... A real trade deal would be 10 or 20,000 pages long. But any progress is good."

The CEO also welcomed signs of improved relations with China and "positive rumblings" from Japan and Taiwan. He advised the administration to continue making progress "country by country, tariff by tariff."

Could be America alone
While Dimon has previously warned that tariffs are "likely to prove only modestly inflationary," he cautioned that economic indicators would likely worsen in the near term. "In the short run, you'll probably see a little bit more inflation and a slowing economy," he said, though he maintained that any recession would likely be "very mild."

Dimon urged Trump to focus on his pro-growth agenda rather than distractions: "Be pro-growth, pro-deregulation, and active on tax reform. Those things could be very good for the growth of the American economy."

The banking leader also emphasized the importance of immigration reform , saying, "After you eliminate the criminal element, I would try to work on real immigration reform. We need seasonal workers, we need a path to citizenship for some of the undocumented but law-abiding immigrants, we need DACA."

Dimon concluded with a warning from his shareholder letter: "America First is fine, as long as it doesn't end up being America alone."