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US Commerce Secretary Lutnick, bank CEOs discussed tariffs one day after announcement
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US Commerce Secretary Lutnick, bank CEOs discussed tariffs one day after announcement
Apr 7, 2025 9:14 AM

WASHINGTON, April 7 (Reuters) - The heads of the largest

U.S. banks met with Commerce Secretary Howard Lutnick last week

to discuss President Donald Trump's tariff plans a day after

they were announced.

CEOs from the nation's largest banks met with Lutnick in

Washington on Thursday as part of a meeting hosted by the

Financial Services Forum, an industry lobbying group. Lutnick

discussed the administration's strategy toward tariffs and CEOs

asked questions, according to two sources familiar with the

meeting.

A spokesperson for the Forum confirmed the meeting, saying

the executives "meet regularly with policymakers to discuss a

range of issues, including the strength and resiliency of the

nation's largest banks, and the need for appropriate policy and

regulation to support economic growth and job creation."

An administration official confirmed the meeting. A

spokesperson for the Commerce Department did not immediately

respond to a request for comment.

Lutnick's meeting with the group, which includes CEOs

from the nation's eight largest banks, lasted about a half hour,

one source said. It came one day after Trump announced sweeping

tariffs across the globe, setting off a chaotic selloff on Wall

Street.

JPMorgan Chase ( JPM ) CEO Jamie Dimon, who attended the

meeting, warned in his annual letter to shareholders Monday that

tariffs could have lasting negative consequences.

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