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

The newly elected president has now excluded Dimon from a spot in his Cabinet – despite the fact that the JPMorgan team has consistently insisted that the CEO has no interest in entering 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 join the Trump administration.

“I thank Jamie for his outstanding service to our country!”

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

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

“But I also want to tell the president that I haven’t had a boss in 25 years and I’m not ready to start yet.”

Whether the Republican candidate actually considered approaching Dimon for a role is anyone’s guess.

In a June interview with Bloomberg, Trump said Dimon is “someone I would definitely consider” for a role as Treasury secretary.

A month later, Trump backed down, writing on Truth Social that he “didn’t know who said it” and claiming the idea may have come from the “radical left.”

Despite stepping back from a role in government, Dimon laid out the immediate issues the next Oval Office should focus on.

“The most important thing is that whoever is elected – and this is my belief – they will participate and be responsible for the most complicated geopolitical, military and geo-economic situation the world has faced since World War II,” said Dimon.

“Of course I wish him all the best… this can be a difficult matter with many unknowns and uncertainties, and so policy will matter.”

Dimon on Trump tariffs

While Dimon clearly has no plans to work for Trump, he did provide some insights into how business leaders should prepare to sidestep his policies.

A Trump proposal What particularly worries companies is the Republican politician’s tariff plan, which includes 60% on imports from China and 10% to 20% on countries such as the United Kingdom, Germany, and France.

According to Bloomberg, Dimon had a fairly simple tip for those who wanted to understand Trump’s motives. He told the audience this week: “Read his book: Create Options.”

Dimon is probably referring to Trump’s book The art of negotiationand added: “I just hope it is done sensibly.”

Or the rates are a good idea remains to be seen, but the bank boss – who was paid $36 million for his work in 2023 – said at the very least, the tactic will “get people to the table” for negotiations.

For what it’s worth, the analysts working under Dimon aren’t panicking about rates yet.

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

In a note seen by Fortunethey wrote: “Trump advisers outlined a gradual phase-in of tariffs to allow companies to adjust their operations and give other countries time to reconsider and negotiate.

“There was discussion about reciprocal tariffs that disadvantage U.S. goods abroad versus goods from foreign countries entering the U.S. versus outright punitive tariffs.”