JPMorgan Chase CEO Jamie Dimon on Trump and what is "tearing at the body politic"

The nation's largest bank is making a major investment in the nation's capital. JPMorgan Chase announced its plans Wednesday to open 70 new branches and hire 700 new employees in the Washington, D.C., Virginia and Maryland area. The move is part of the firm's five-year, $20 billion investment supporting economic growth in the region.

"CBS Evening News" anchor Jeff Glor spoke with Jamie Dimon, the chairman and CEO of JPMorgan Chase, to discuss the company's expansion plans, President Trump, immigration and foreign policy.

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JPMorgan Chase CEO Jamie Dimon (left) and CBS News' Jeff Glor

CBS News

GLOR: How's President Trump doing?

DIMON: Well, I-- look, I'm not gonna speak specifically. … Regulatory stuff, good. I think a lot of people I speak to, CEOs, have seen relief. … But let's just reduce the bureaucracy, which we all know is there. Anyone who deals with government and the DMV or the VA sees it all the time.

GLOR: How often do you talk to the president?

DIMON: Not a lot.

GLOR: When you talk to him, what do you say?

DIMON: Well, I'm the chairman of the Business Roundtable. So I go for very specific things. And it was trade. We've spoken about trade. We've spoken immigration, about the policy issues that we're trying to give him our insights and what we think would be good for the country.

GLOR: You disagree with him, in part, on both trade and immigration, but also agree with him, in part--

DIMON: Immigration, I don't know. Because it's not completely clear where the administration is on the broad spectrum of immigration. I've heard him say publicly, "I support DACA." I've heard him say publicly, "I wanna get immigration reform done." But of course, it's all wrapped up in border security and things like that. So I-- you know, I'm not an expert on immigration policy. But if it were up to me, I'd try to get immigration fixed. You know, it's tearing at the body politic.

GLOR: There's been a lot of talk about North Korea. We know that Mike Pompeo, outgoing CIA director-- potentially secretary of state, went to visit Kim Jong Un. The president's really trying to advance that potential summit, which might take place in June. Good idea?

DIMON: I think it's a great idea. I mean, how can trying-- you know, to have peace on the Korean peninsula would be wonderful for the world. And you know, I find it funny when people say, "Don't try." Of course you should try. If it doesn't work, it doesn't work. But I think the fact that Pompeo went there is a very good sign, and hopefully, that they will come to a resolution. I mean, everyone would want that, including China, Russia -- well, hopefully, Russia. 

GLOR: Do you see China as a threat?

DIMON: We should work with them. They do compete economically. And I wanna compete with the Chinese banks. … But there's no reason we can't do it together and help each other. … The president says he has a great relationship with President Xi. They should continue that for the sake of the world.