Jamie Dimon says tariffs can be positive for national security, even if inflationary: 'Get over it'

foxbusiness.com:

Former Reagan economist Art Laffer weighs in on Trump’s controversial economic plan to impose a 25% tariff on Mexico and Canada beginning February 1. 

JPMorgan Chase CEO Jamie Dimon said in a new interview that a small increase in inflation caused by the Trump administration's tariff plans would be worthwhile in the service of national security concerns.

Dimon appeared on CNBC's «Squawk Box» and said tariffs are an economic tool that can be used for a variety of reasons, and that while they could cause inflation, that would be acceptable if it helped the U.S. meet national security goals.

«I look at tariffs, they are an economic tool, that's it. They're an economic weapon, depending on how you use it and why you use it and stuff like that,» Dimon said. 

«People are arguing, is it inflationary, is it not inflationary? I would put it in perspective – if it's a little inflationary, but it's good for national security, so be it. I mean, get over it. National security trumps a little bit more inflation,» he said.

JAMIE DIMON WEIGHS IN ON TRUMP'S WIN, POLICIES HIS ADMIN SHOULD FOCUS ON

JPMorgan Chase CEO Jamie Dimon said inflation caused by tariffs that boost national security would be acceptable. (Aaron Schwartz/Xinhua via / Getty Images)

Dimon went on to say that the way the Trump administration might use tariffs to pursue more favorable trade terms or address national security issues is a more important question than whether they will cause inflation.

«But I think really, the question is how they get used. Can they be used to bring people to the table? Yes. Is there some unfair trade? Yes. Is there some state-owned subsidies? Yes. Is the president going to use it that way and his team? Yeah, and we'll see. But how it gets