[Source/Observer Network Qi Qian] US President Trump has recklessly acted on tariff policies, significantly affecting global economic and trade relations. According to a report by the UK's Financial Times on April 15, Jamie Dimon, CEO of JPMorgan Chase, warned that the tariff war initiated by Trump could damage America's credibility and threaten its economic advantage. He pointed out that "decoupling" from China should not be America's goal.

In an interview with the Financial Times, Dimon stated that he believes, given prosperity, rule of law, and economic and military strength, the United States remains the "safe haven" for the world economy. However, he also reminded that America's economic advantage might be threatened by Trump's tariff policies.

"Many uncertainties pose certain challenges to this," Dimon said. "So you will constantly read about it. After these tariffs and trade wars subside and disappear, people will say, 'I can rely on the U.S. again.'"

Regarding the recent massive fluctuations in the U.S. stock market, Dimon said, "We should proceed with caution," but not overly so. He believed that the recent market turmoil was caused by "rapid and chaotic actions" of the Trump administration, triggering panic, but "most market conditions are good."

He further noted: "When they announced the 'Liberation Day' tariffs, these measures were far beyond expectations, greatly exceeding expectations. This is shocking for the entire global system, not just the American system."

Dimon accepts Financial Times interview Video screenshot

Dimon made the above remarks as Trump's tariff policies have thrown global trade relations into chaos.

In just the past two weeks, Trump's tariff policies have been changing: first initiating a tariff war against the whole world, then suddenly pausing the "reciprocal tariff" for 90 days after the global stock market shock, while targeting China. Subsequently, Trump repeatedly raised tariffs on China. The U.S. tariff on China increased from 20% at the beginning, to 54%, then to 104%, 125%, and recently to 145%. China has resolutely retaliated.

The Financial Times mentioned that last week, investors sold off U.S. Treasury bonds, causing the 10-year bond yield to rise by the largest margin in decades. Some investors began to question America's long-standing position as a leading global market. JPMorgan Chase recently released a report warning that the tariff war could lead to a U.S. economic recession.

Dimon has led JPMorgan Chase for nearly twenty years and is one of the most influential figures on Wall Street. In this interview, he urged the U.S. to quickly engage with China, "starting tomorrow." He pointed out that "decoupling" from China should not be the goal of the U.S. government.

When talking about Trump's tariff system, Dimon said: "I think we should have a clear understanding of what we aim to achieve. And I also believe we should act together with allies... I hope to eventually negotiate with Europe, Britain, Japan, South Korea, Australia, and the Philippines, and establish very solid economic relationships."

As the U.S. stock market continues to fluctuate, Trump recently revealed plans to grant tariff exemptions to large companies.

On the local time of the 14th, Trump disclosed several pieces of information about tariff policy reversals at a White House press conference, including considering temporarily canceling auto tariffs, possibly imposing new tariffs on semiconductors and pharmaceutical products. At the same time, Trump boasted that he had "helped" Apple CEO Tim Cook. Previously, Trump announced temporary tariff exemptions for some electronic products.

Meanwhile, the U.S. has launched so-called "national security investigations" on imported chips and pharmaceuticals, and initiated investigations on whether additional taxes are needed for imported critical minerals.

While Trump is considering granting tariff exemptions to large American technology companies like Apple and Nvidia, as well as automobile companies, small American businesses are urgently wondering when and if they will receive exemptions, and whether they can survive until then.

In recent days, small businesses across various industries in the U.S. have been in a state of distress. CNBC and CNN and other foreign media outlets reported that for most small business owners in the U.S., Trump's 145% tariff on China will soon cause "irreversible" damage. American furniture, toys, clothing, sports equipment, and other consumer goods are highly dependent on imports from China.

This article is an exclusive article of Observer Network and cannot be reprinted without permission.

Original source: https://www.toutiao.com/article/7493745378291761675/

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