JP Morgan CEO Jamie Dimon has warned that "negative talk" about Trump supporters is hurting the Biden re-election campaign.
The 67-year-old billionaire, who has been a Democrat donor, said that Trump "wasn’t wrong" about some of critical issues.
Dimon also praised Trump's attitude to NATO as well as his approach to immigration.
However, the CEO has previously said he preferred Nikki Haley over Trump. He also refused to fully endorse either Biden and Trump.
JP Morgan CEO Jamie Dimon praised Trump's attitude to NATO as well as his approach to immigration
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Speaking on CNBC's Squawk Box, Dimon said: " I think it’s a mistake to assume everything is hunky-dory. And, you know, when stock markets were up, it’s like this little drug we all feel, like it’s just great, you know?
"But remember, we had so much fiscal monetary stimulation. So I’m a little more on the cautious side, that we are facing a lot of things in ’24 or ‘25 and we mentioned Ukraine, the terrorist activity in Israel, the Red Sea, quantitative tightening which I still question if we understand exactly how it works, I don’t think we do.
"When people say MAGA, they’re actually looking at people voting for Trump and they think they’re voting, and they’re basically scapegoating them, that you are like him, but I don’t think they’re voting for Trump because of his family values.
"If you look at, just take a step back, be honest. He’s kind of right about NATO. Kind of right about immigration. He grew the economy quite well....Tax reform worked. He was right about some with China."
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However, Dimon has called on Americans to be more "respectful" of those who disagree with them politically.
He added: "I don’t like how he said things about Mexico, I don’t like -- but he wasn’t wrong about some of these critical issues. And that’s why they’re voting for him.
"I think people should be a little more respectful of our fellow citizens and when you guys have people up here, you should always ask the why.
"Not like it is a binary thing, you support Trump, you’re not supporting Trump. Why you’re supporting Trump?
"And the Democrats have done a good job with the deplorables, hugging their bibles and their beer and their guns...Can we stop that stuff and actually grow up and treat other people respectfully and listen to them a little bit?
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"I think this negative talk about MAGA is going to hurt Biden’s election campaign."
It comes as Trump scored an overwhelming victory on Monday in Iowa caucuses, with the former president taking all but one of the state's 99 counties.
However, experts are warning that Trump has a bigger challenge when he heads to New Hampshire where he will face a more diverse electorate.
Trump is still the frontrunner in the state's January 23 primary, but former UN ambassador Nikki Haley, who appeals to more moderate voters, has closed the gap in recent opinion polls.
