Jamie Dimon, CEO of JPMorgan Chase, isn't shy about calling it how he sees it. In a wide-ranging interview on Sunday Morning, he spoke about income inequality, the state of the economy and what's broken – and what's not.

The JPMorgan Chase chief executive, who had warned of the negative effect of tariffs, said they could be justified for national security reasons.

Dimon's comments Wednesday come as Trump has threatened to impose a 25 percent tariff on products from Mexico and Canada by February 1 and a 10 percent tariff on Chinese imports. Earlier Wednesday, Trump also teased the notion of imposing "taxes, tariffs, and sanctions" on Russia if it doesn't end its war against Ukraine.