JPMorgan Chase CEO Jamie Dimon on US-China trade war: ‘it is neither desirable nor…’

JPMorgan Chase CEO Jamie Dimon said that the U.S. and China should keep communications open as trade tensions continue. In a recent interview with the Financial Times, Dimon said regular and respectful dialogue between the two nations is important to manage disagreements. Noting that China has seen strong economic growth, he highlighted that the country’s trade practices and influence in the region have raised concerns. “They are scaring Japan, Korea, Indonesia, Vietnam, India,” he stated, urging Chinese authorities to be receptive to addressing these concerns. Dimon's comments come as the Trump administration announced a sweeping new tariff of up to 245% on Chinese imports. China, on the other hand, said if the U.S. continues to play the "tariff numbers game", it will pay no attention to it.
In the interview, Dimon further highlighted that the U.S. should not try to fully cut economic ties with China, adding that “it is neither desirable nor necessary”. Dimon further said that the U.S. should build its own capacity and work with countries like the UK, Europe, Japan, Korea, Australia, and the Philippines to negotiate better trade terms.

During the interview, Dimon was asked whether Donald Trump should call Chinese President Xi Jinping. He responded saying “I think adults should talk to each other and listen to each other and acknowledge when the other person is right, or at least has a good point.” He said the two countries should engage more, adding that “You start with a phone call”.

Commenting on the U.S. economy, Dimon said that he remains confident in its strength, highlighting its rule of law, innovation, and military power. He also warned against isolating the U.S. from the rest of the world, saying “America First is OK, but not America Alone.”
He further added that division among Western countries could lead to long-term problems. “We don’t read a book in 40 years: ‘How the West was Lost’,” the CEO added.
Stating that while he doesn’t agree with everything done by the Trump administration, he hopes Treasury Secretary Scott Bessent would lead the trade deals well.