JP Morgan Chase CEO Jamie Dimon on Wednesday praised former President Donald Trump’s record and advised Democrats to be “more respectful” to Trump’s supporters. Otherwise, he warned, he risks harming President Joe Biden’s re-election bid.
Speaking on CNBC’s “Squawk Box,” Dimon called out Trump supporters to the acronym for Trump’s campaign slogan, “Make America Great Again,” saying, “I hope Democrats think a little more carefully when they talk about MAGA. That’s fine.”
Biden warned that Trump and “MAGA Republicans” pose an existential threat to American democracy. But he also distinguish It’s a conflict between President Trump’s most hardline supporters and “mainstream Republicans” who claim Biden has the party’s majority.
“I think all this negative talk about MAGA is going to hurt Biden’s campaign,” Dimon said at the World Economic Forum’s annual meeting in Davos, Switzerland.
Dimon argued that the use of the phrase “MAGA” incorrectly associates Trump’s supporters with the former president’s personality and character.
Democrats “are basically scapegoating them. [saying] “I don’t think they’re voting for Trump because of family values,” Dimon said.
Dimon’s comments, who has donated to Democratic candidates but previously described himself as “hardly a Democrat,” came two days after the former president defeated his few Republican rivals in the Iowa caucuses. It was done later.
Mr. Dimon in November praised one of Mr. Trump’s challengers, former U.N. ambassador Nikki Haley, who finished third in Iowa on Monday.
Dimon also praised President Trump’s policy record.
“Let’s take a step back and be honest. He was right about NATO in some ways, he was right in some ways about immigration. He grew the economy very well. Trade tax reform worked. He was right about parts of China. was right.”
“He wasn’t wrong on some of these important issues, and that’s why they voted for him,” Dimon said.
Asked which candidate would be better for his business, Dimon said, “We need to be prepared for both. We’ll be prepared for both. We’ll deal with both.”
“And I hope you respect others, whoever they are,” he added.
The White House did not immediately respond to CNBC’s request for comment on Dimon’s remarks.
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