Jamie Dimon, chief government officer of JPMorgan Chase & Co., through the 2025 IIF annual membership assembly in Washington, Oct. 16, 2025.
Samuel Corum | Bloomberg | Getty Photos
JPMorgan Chase CEO Jamie Dimon stated Wednesday that he disagreed with President Donald Trump’s strategy to immigration, providing a uncommon public rebuke by a U.S. company chief of considered one of Trump’s signature insurance policies.
Dimon, talking on a panel on the World Financial Discussion board in Davos, Switzerland, initially praised Trump’s strikes to safe the borders of the world’s largest economic system. Unlawful crossings on the U.S.-Mexico border fell to the bottom degree in 50 years for the interval from October 2024 to September 2025, the BBC reported citing federal information.
However Dimon, who has lengthy advocated for immigration reform to spice up U.S. financial progress, additionally made an obvious reference to movies of U.S. Immigration and Customs Enforcement officers rounding up individuals alleged to be undocumented immigrants.
“I do not like what I am seeing, 5 grown males beating up just a little previous woman,” Dimon stated. “So I feel we should always relax just a little bit on the inner anger about immigration.”
It is unclear if Dimon was talking a few particular incident, or extra broadly about ICE confrontations.
Within the first 12 months of his second time period, Trump has overhauled U.S. immigration coverage with a deal with mass deportations, tightened asylum entry and ramped-up spending for ICE personnel and services. Amongst a torrent of recent insurance policies that modified the panorama for searching for American citizenship, the administration additionally rescinded steering on the place ICE arrests may occur, resulting in raids at faculties, hospitals and locations of worship.
In contrast to throughout Trump’s first time period, American CEOs have largely prevented public criticism of his insurance policies. Wall Avenue analysts have speculated that enterprise leaders concern retribution from the Trump administration, which has sued media corporations, universities and regulation companies, and as an alternative select to attraction to the president out of the general public highlight.
On Wednesday, Dimon stated that he needed to know extra about who’s being swept up in ICE raids: “Are they right here legally? Are they criminals? … Did they break American regulation?”
“We want these individuals,” Dimon added. “They work in our hospitals and inns and eating places and agriculture, and so they’re good individuals .… They need to be handled that means.”
‘A local weather of concern’
For years, in annual shareholder letters and media interviews, Dimon has cited an immigration overhaul as one of many foremost avenues to unlock increased U.S. financial progress.
The veteran CEO of JPMorgan, the world’s largest financial institution by market cap, has beforehand supported a merit-based system for inexperienced playing cards in addition to citizenship for individuals dropped at America as youngsters, and pushed again on proposals to restrict H-1B visas.
On Wednesday, Dimon urged Trump to permit citizenship “for hardworking individuals” and “correct asylum” alternatives.”
“I feel he can, as a result of he managed the borders,” Dimon stated.
Later within the wide-ranging interview, The Economist Editor-in-Chief Zanny Minton Beddoes, instructed Dimon that she was stunned at how cautious he and different CEOs had been in talking about Trump.
“You might be one of many extra outspoken enterprise leaders,” Beddoes stated. “I am genuinely struck by the unwillingness of CEOs in America to say something vital. There’s a local weather of concern in your nation.”
Dimon pushed again, saying that he let his views be identified about Trump’s tariffs, immigration insurance policies and stance in direction of European allies.
“I feel they need to change their strategy to immigration,” Dimon stated. “I’ve stated it. What the hell else would you like me to say?”
