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Jamie Dimon says US needs to ‘get our own act together’

  • Jamie Dimon, CEO of JPMorgan Chase, cautioned in June 2024 about the tense US-China relationship and highlighted internal national challenges during his remarks at an economic forum in California.
  • His warning followed escalating trade tensions after President Trump's tariffs disrupted US-China trade and were affected by shifting tariff levels and court rulings.
  • Dimon highlighted that the US faces mismanagement in permitting, regulations, immigration, taxation, education, and healthcare, while China remains a strong but troubled potential adversary.
  • He quoted that the US deficit was about $2 trillion or 7% of GDP in 2024, warning it could rise to 10% during a recession and exhorted, "We have to get our act together."
  • Dimon agreed with Warren Buffet that fixing these issues could enable 3% annual US growth, yet he expressed concern about internal weaknesses despite resilient fundamentals.
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Mediaite broke the news in United States on Friday, May 30, 2025.
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