Jamie's Dimon: The biggest threat to America is the enemy inside

Jamie's Dimon: The biggest threat to America is the enemy inside

The CEO of JPMorgan Chase, Jamie Dimon, expressed concerns about the tense relationships between the USA and China on Friday and about what he described as "the enemy in his own ranks". "China is a potential opponent - they do a lot of things well, but also have numerous problems," said Dimon at the Reagan National Economic Forum. "But what really gets me is that we have to find our own way - our own values, our own ability, our own management."

trade relationships between the USA and China

Dimon's comments come at a time when President Donald Trump's tariffs significantly affect the trade between the United States and China, the two largest economies in the world. Trump's trade policy has been wound through various customs levels and was also influenced by court judgments, which for more uncertainty in an already tense relationship the economies have an effect worldwide.

criticism of the American administration

Dimon said that with Warren Buffett, the CEO of Berkshire Hathaway, he agrees that America is a "resilient towards normal", but the current situation is different. "We have to correct our course very quickly," he emphasized, pointing out a problem with "misvergate" in the United States. Dimon called for a reform in the areas of permits, regulations, immigration, taxation, schools in the city centers and in the health system. If these problems are resolved, the country, according to Dimon, could achieve annual growth of 3%.

risks of an economic downturn

"What you heard on stage today is the extraordinary amount of misconduct. Applications, pension funds ... and these things will break the neck," said Dimon and referred to comments from former panel participants at the forum. The US government deficit was about $ 2 trillion in 2024, which corresponds to approximately 7% of gross domestic product, according to a report by the congressional budget office. "If the country gets into a recession, it will increase 7% to 10%," he added.

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