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“Get Over It” – Dimon Backs Trump Tariffs As “Good For National Security”

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“Get Over It” – Dimon Backs Trump Tariffs As “Good For National Security”

Authored by Michael Every via Rabobank,

Get over it, but you can’t get past it

Jamie Dimon of JP Morgan Chase –in Davos(!)– yesterday stated US tariffs are an economic tool or an economic weapon and, “I would put in perspective: If it’s a little inflationary, but it’s good for national security, so be it. 

Exactly so. Our ‘

  • Bloomberg reports that, ‘One by One, World Leaders in Davos Fall in Line in Trump Era’, though I can think of a few who don’t and won’t.

  • President Zelenskyy says even if a Ukraine peace deal is signed, it would require 200,00 EU troops in the country to prove sustainable. That’s almost the entire French armed forces. If true, somebody in Europe is going to be spending a vast amount on defence in the next few years. After all, ‘Freedom isn’t free’ – or just free trade.  

  • Saudi Arabia’s MBS reportedly offered the US at least $600bn in new trade and investments over the next four years. Some may say Saudi doesn’t have that kind of cash with oil prices at current levels, let alone the lower ones Trump wants to see… then again, neither does the Big Tech group behind the $500bn AI ‘Project Stargate’ announced yesterday, says Elon Musk.

  • The US relisted Yemen’s Houthis as a terrorist organisation, ironically as the latter allows all but Israeli ships to transit Suez again while the current Middle East ceasefire holds – which many there expect is unlikely to last that long.

  • Argentina’s President Milei is prepared to quit the Mercosur trade bloc to get a US FTA. Europe only just introduced an FTA with Mercosur is already losing out.

  • The UK press argues PM Starmer must “fight hard and fast to define Britain’s destiny” and needs “a coherent strategic purpose.” So, grand strategy –where the key choice is does the UK go with the US or the EU?– not a piecemeal technocratic Grand Starmer-gy.

  • France’s trade minister suggested the EU should try to diversify trade to Latin America (more than the FTA with Mercosur minus Argentina?) and ASEAN (which mainly consists of net exporters whom the US can provide security guarantees to which the EU cannot).  

  • The Pentagon is sending troops to the US-Mexico border to boost security and airlift out migrants, as Mexico reportedly sets up a tent city to prepare for mass deportations from the US.

  • Secretary of State Rubio’s first official visit will be to the Panama Canal, a break from the precedent of going to key allies first. He also attacked China for its actions vis-à-vis the Philippines and promised the latter an “iron clad” US defence as well as expanded security and economic ties.

  • Day ahead

    Today has the ECB’s Escriva, Canadian retail sales, and US weekly jobless claims, then Eurozone consumer confidence.

    Tyler Durden Thu, 01/23/2025 – 08:11


    Source: https://freedombunker.com/2025/01/23/get-over-it-dimon-backs-trump-tariffs-as-good-for-national-security/


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