JPMorgan Chase CEO Jamie Dimon’s blunt warning to the US on China tariffs: They’re not scared, people, they …

JPMorgan Chase CEO Jamie Dimon issued a stark warning to American officers on Friday (May 30), urging them not to underestimate China’s resilience in the ongoing commerce battle. Speaking at the Reagan National Economic Forum in California, Dimon cautioned in opposition to the perception that China will fold below the stress of escalating tariffs.“I would engage with China. I just got back from China last week. They’re not scared, folks,” Dimon informed an viewers of lawmakers, enterprise leaders, and economists. “This notion they’re going to come bow to America, I wouldn’t count on that. When they have a problem, they put 100,000 engineers on it. They’ve been preparing for this for years,” he added.Dimon’s feedback come at a time when the Trump administration is pushing powerful commerce insurance policies, believing that China gained’t have the option to deal with the stress from tariffs and can finally give in. In May early, the two international locations briefly eased tensions by decreasing some tariffs, however that progress now appears to be falling aside.

JPMorgan Chase’s CEO warning on nationwide preparedness

Dimon’s feedback on commerce got here as a part of a broader concern about the United States’ readiness for future international challenges — notably when it comes to army power.“The military guys tell you that if there’s a war in the South China Sea, we have missiles for seven days. Come on, we can’t say that with a straight face and think that’s okay,” he mentioned.He emphasised the want for pressing motion. “We know what to do, we just now gotta go about doing it.”The message from the head of America’s largest financial institution was clear: the U.S. ought to rethink its assumptions not nearly international economics, but in addition about its broader preparedness for geopolitical battle.