JPMorgan CEO and former Trump critic Jamie Dimon believes the president & # 39; only & # 39; deserves merit for the strong economy and says that corporate tax cuts have made the US more competitive
- CEO Jamie Dimon says that Trump & # 39; only & # 39; deserves merit for the strong economic performance of the US during its first term
- Dimon praised Trump & # 39; s decision to lower the corporation tax rate from 35% to 21% and says it has made the US more competitive with other countries
- & # 39; Regulatory reform, we needed, & # 39; he said in comments to Yahoo Finance
- JPMorgan's CEO has criticized Trump in the past
JPMorgan Chase's CEO, Jamie Dimon, has emerged as a supporter of Donald Trump's tax cuts and deregulation of companies.
Dimon, who severely criticized the president at a New York event last September and apologized shortly afterwards, said that Trump & # 39; only & # 39; merit to make the economy stronger.
In an interview with Yahoo Finance Editor-in-Chief Andy Serwer, that was broadcast Yahoo Finance, Dimon said the country needed tax reform.
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., told Yahoo Finance that Trump & # 39; only & # 39; merit to make the economy stronger. It is shown in March 2019
& # 39; All my liberal friends in New York would never agree with me. But the fact is that we needed tax reform, & he said.
Dimon welcomed the reduction in the corporate income tax rate, reduced from 35 percent to 21 percent.
He believes that the cuts make the US more competitive with other countries in attracting businesses.
He also believes that a reduction in corporate income tax rates will be good for the US in the long term.
& # 39; Some are going to buy back shares and so on, but that is capital, & # 39; Dimon said. & # 39; That is simply returning capital to be reinvested. The real benefit is the cumulative reinvestment in the United States over the next 20 years, and that will be substantial. & # 39;
Donald Trump speaks at a press conference after the G-20 Summit in Japan on June 29. Trump and Dimon have maintained a good working relationship. Dimon chairs the Roundtable CEO and discussed economic policy with Trump at a meeting in the White House earlier in June
& # 39; Regulatory reform, we needed & # 39 ;, he said, not referring to banks but to bureaucracy and bureaucracy making it harder to build houses and start businesses.
Last September, Dimon Trump criticized an event at JPMorgan Chase HQ in New York, predicting that he would win against the president during an election.
& # 39; I'm as tough as him, I'm smarter than him. & # 39; The CEO added that he didn't get his money & # 39; from his father & # 39; received.
He quickly got out of the comments.
& # 39; I shouldn't have said it. I'm not running for president, & Dimon said in a statement. & # 39; Proves that I would not become a good politician. I get frustrated because I want all parties to come together to solve major problems. & # 39;
In April, Dimon appeared to have some criticism of Trump in his annual letter of shareholders, suggesting that American political leadership had exacerbated global instability
In April, Dimon appeared to have some criticism of Trump in his annual shareholders' letter, suggesting that American political leadership had worsened global instability.
However, the two men have maintained a cordial working relationship.
Dimon chairs the Roundtable CEO and discussed economic policy with Trump at a meeting in the White House earlier in June.
The Mexican trade agreement, Chinese rates and immigration were some of the issues that were on the table for discussion.
"That is our job, try to help him do the best he can," Dimon added.
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