JPMorgan Chase Chairman and CEO Jamie Dimon defended former President Donald Trump’s supporters and said that Trump “wasn’t wrong” on some of the critical issues that he raised during his presidency.
In an interview with CNBC at the World Economic Forum in Davos, Switzerland, Dimon said that Trump had some valid points on NATO, immigration, the economy, tax reform, and China, and that Democrats should not dismiss or insult the millions of Americans who voted for him.
“He’s kind of right about NATO, he was kind of right about immigration, he grew the economy quite well, tax reform worked, he was right about some of China,” Dimon said. “I don’t like what he did … I don’t like how he said things about Mexico. But he wasn’t wrong about some of these critical issues, and that’s why they’re voting for him.”
Dimon also warned that the negative talk about Trump and his supporters could hurt President Joe Biden’s reelection chances in 2024.
“I think people should be a little more respectful of our fellow citizens,” Dimon said. “And when you guys have people up here … You should always ask the ‘Why.’ Not like it’s a binary thing, ‘You’re supporting Trump, you’re not supporting Trump.’ Why are you supporting Trump?”
Dimon added that the Democrats have alienated some voters by labeling them as “deplorables” or “ultra-MAGA” and by implying that they are clinging to their “Bibles and their beer and their guns.”
“I mean, really like, can we just stop that stuff and actually grow up, and treat other people with respect and listen to a little bit?” Dimon said. “And I do think the economy will affect it. I think there’s this negative talk about MAGA is going to hurt Biden’s election campaign.”
Dimon’s comments come as Biden faces multiple challenges at home and abroad, including rising inflation, supply chain disruptions, the Covid-19 pandemic, the Ukraine crisis, and the tensions with China and Russia.
Dimon said that he wished the government would prepare for the potential impact of these “very powerful forces” on the U.S. economy in 2024 and 2025.
“So if I was the government I would be preparing for what I’m going to do about that assuming things aren’t good,” Dimon said.
