JPMorgan Chase CEO Jamie Dimon has softened his stance on tariffs, acknowledging that economic uncertainty is a concern for businesses. Previously defending former President Donald Trump’s tariff policies with a blunt “get over it” remark at the World Economic Forum, Dimon now admits that while tariffs may not impact daily consumer behavior, they do influence corporate decisions.

His shift comes as Trump recently imposed 25% tariffs on steel and aluminum imports, prompting retaliation from Canada and the European Union. While Trump argues these measures will boost American manufacturing and national security, economists warn they could drive up costs on essential goods like food and housing.

The stock market has reacted negatively, with the S&P 500 dropping over 7% in a month due to trade uncertainties. Larry Fink, CEO of BlackRock, echoed concerns, stating that tariffs are causing businesses to pause investments, weakening the economy. However, he believes reciprocal tariffs could lower trade barriers over time.

Dimon’s revised perspective reflects the growing worries about market volatility and economic stability, highlighting the ongoing debate over the long-term impact of tariff policies.