Jimmy Damon says that China is unlikely to fold the definitions: “They are not afraid.”
Jimmy Damon, CEO of JPMorgan Chase, said that the United States needs to collect its business together in trade – quickly.
Damon discussed the ongoing tension between the United States and China on Friday at the 2025 National Economic Forum, as it led a fire on fire side. When asked about what his biggest concern was, Damon referred to the changing global geopolitical and economic scene, including trade.
“We have problems and we have to deal with them,” Damon said before referring to the “enemy at home”.
He said that the treatment of the “enemy inside” includes determining how the United States is running, organizing, taxes, immigration, education and a health care system.
This also means maintaining important military alliances.
“China is a possible opponent. They are doing a lot of things well. They have a lot of problems.” “What I really feel worried is we. Can we collect our work together? Our own values, our own capabilities, and our own management.”
Damon said that if the United States has not “not” a prominent and prominent military economy for 40 years, we will not be the reserve currency. This is a fact. “
Although Damon believes that the United States is usually flexible, things are different this time.
“We have to collect our work together, and we have to do it very quickly,” he said.
During the conversation, Damon talked about commercial deals and encouraged American leaders to communicate with China.
“I just returned from China last week,” Damon said. “They are not afraid, people. This idea will come to America, I will not rely on it.”
Trump’s decision to impose a tariff on many countries, including sharp tariffs in China, shook global markets earlier this year. The markets were trapped after many countries, including China, began negotiating. But the possibility that the customs tariff will increase again at any time that includes investors and economists on the edge of the abyss.
On Friday, for example, in fact, Trump accused China of violating the two countries’ trade agreement. On the same day, Trump said he intends to increase tariffs on steel imports from 25 % to 50 %.
“We will bring it from 25 % to 50 %, and steel definitions in the United States of America, which will secure the most steel industry in the United States. No one will wander in it,” Trump said during a march near Pittsburg.
Jpmorgan Chase representatives refused to comment.