Jamie Dimon has no interest in working under Donald Trump

There are few people in life that Jamie Dimon has to answer to, and at 68, the JPMorgan CEO isn't about to start.

Before the election earlier this month, the Wall Street veteran was peppered with questions and rumors about a potential role in the Trump or Harris administration.

The president-elect has now excluded Dimon from a spot in his cabinet, despite the JPMorgan team continually insisting that its CEO has no interest in going into politics.

Despite this, Trump wrote on his social media platform Truth Social on Thursday: I greatly respect Jamie Dimon of JPMorgan Chase, but he will not be invited to be part of the Trump administration.

I thank Jamie for his exceptional service to our country!

Although the billionaire banker seemed somewhat flattered by America's next commander-in-chief's comment, Dimon pushed back on the idea that he ever joined a team under Trump.

Speaking at the Asia-Pacific Economic Cooperation CEO Summit moments after Trump's message went live, Dimon said: First of all, I wish the president well and thank you, it's a very nice note.

But I also just want to tell the president that I haven't had a boss in 25 years and I'm not ready to start.

Whether or not the Republican nominee would consider approaching Dimon for a role remains a mystery.

In a June interview with Bloomberg, Trump said Dimon was someone I would consider, certainly for a role like Treasury secretary.

A month later, Trump backtracked, writing on Truth Social that he didn't know who said that and claimed the idea may have come from the radical left.

Although he distances himself from any government role, Dimon outlined the immediate issues the next Oval Office should focus on.

The most important thing is who was elected – and I am confident that he will come in and be responsible for the most complicated geopolitical, military and geoeconomic situation the world has faced since World War II, Dimon said .

Of course, I wish him all the best, because it could be a difficult thing with a lot of unknowns and uncertainties and so politics will be important.

Dimon on Trump's tariffs

While Dimon clearly has no plans to work for Trump, he did offer some ideas on how business leaders should prepare to work around his policies.

One Trump proposal that has businesses particularly concerned is the Republican politicians' tariff plan, which includes 60% on imports from China and 10 to 20% on countries like the United Kingdom, Germany and France.

According to Bloomberg, Dimon gave some pretty simple advice to those seeking to understand Trump's motivations, telling the audience this week: Read his book: Create options.

Dimon is likely referring to Trump's book, The Art of the Deal, adding: I just hope it's done wisely.

Whether tariffs are a good idea remains to be seen, but the banking boss, who received $36 million for his work in 2023, said the tactic would at least bring people to the negotiating table.

For what it's worth, analysts working under Dimon aren't panicking about tariffs yet.

Experts from the largest US bank met with policymakers, economists as well as Trump advisers in late October at the fall meetings of the IMF and the World Bank.

In a memo seen by Fortune, they wrote: Trump advisers outlined a phased introduction of tariffs to allow companies to adjust their operations and give other countries time to reconsider and negotiate.

There was discussion about reciprocal tariffs, in which U.S. products are at a disadvantage abroad compared to foreign products entering the United States, versus outright punitive tariffs.

How separated are you from the most powerful business leaders on the planet? Find out who's on our brand new list of the 100 Most Influential People in Business. Plus, learn the measures we used to achieve this.

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