JPMorgan Chase CEO Jamie Dimon expressed concern about the US’ ability to compete globally, specifically in trade, at the 2025 Reagan National Economic Forum. He believes the US needs to “get its act together” amid the ongoing tension with China.
Dimon highlighted several areas where the US struggles, including permitting, regulation, taxation, immigration, education, and healthcare. He emphasized maintaining military alliances as crucial in countering China’s influence. The CEO stated that if the US is not a dominant economic power within 40 years, it will no longer be the reserve currency.
Dimon urged US leaders to engage with China on trade deals and warned that China is not intimidated by the US. His comments came after Trump accused China of violating their trade agreement, and plans to increase steel tariffs from 25% to 50%.
The situation has investors and economists on edge, with markets recovering from previous tariff disruptions but facing uncertainty over future increases. As a leading financial expert, Dimon’s words underscore the need for swift action to ensure US competitiveness in the global economy.
Source: https://www.businessinsider.com/jamie-dimon-china-tariffs-trump-trade-war-2025-5