[Text/Observer Network Qi Qian] Seeing US President Trump acting recklessly, Jamie Dimon, CEO of JPMorgan Chase, couldn't help but speak out again. According to CNN, on May 30 local time, Dimon expressed at an economic forum held in California that what the United States should really worry about is not China, but itself, and the country should be wary of "internal enemies".

"Although China is a potential rival, they are doing well in many things," Dimon said, "What I truly worry about is ourselves. Can we work together in our actions, values, capabilities, and management?"

Dimon also warned that the trade deadlock between China and the United States will not end here. He pointed out that facing Trump's tariff threats, China "is not afraid, I don't expect them to bow to the United States."

Dimon said he agreed with Warren Buffett, CEO of Berkshire Hathaway, that the United States has "normal resilience," but he also warned that this situation is different. He emphasized, "We must unite and act quickly."

According to Dimon, there is "astonishing mismanagement" in the United States. He called on the government to improve permits, regulations, immigration, taxation, education, and healthcare systems, and stated that if these issues were resolved, the annual growth rate of the U.S. economy could reach 3%.

According to a report by the Congressional Budget Office last June, the U.S. government deficit was approximately $2 trillion in 2024, accounting for about 7% of GDP. In response, Dimon added that if the country falls into recession, "7% will become 10%."

On the 29th, the U.S. Commerce Department released revised data showing that the U.S. gross domestic product (GDP) contracted at an annualized rate of 0.2% in the first quarter of 2025, which was upwardly revised by 0.1 percentage points from the preliminary estimate. Compared to the 2.4% GDP growth in the fourth quarter of 2024, this data change highlights the rising uncertainty caused by the U.S. government's tariff policies, leading to a decline in business and consumer confidence.

On May 22, Dimon was interviewed during the 21st Global China Summit of JPMorgan Chase. Visual China

In addition, according to Reuters, on the same day, Dimon warned that the U.S. bond market would face difficulties and expressed support for taxing carried interest.

"We absolutely should tax carried interest," Dimon proposed during the interview, suggesting using this income to double the current U.S. income tax credit and pointing out that this measure was expected to incur an additional cost of $60 billion, thus directly benefiting communities, families, and housing. Reuters reported that this aligns with the latest position of U.S. President Trump.

Dimon also warned that excessive government spending and quantitative easing policies could lead to a "bond market collapse," predicting that "cracks" might appear "in six months or six years."

Dimon made the above remarks as Trump's tariff policies have wreaked havoc on global trade relations.

In less than two months, Trump's tariff policies have changed frequently: first, starting a tariff war with the whole world; then, after causing huge fluctuations in global stock markets, suddenly pausing "reciprocal tariffs" for 90 days while targeting China. Since then, Trump has repeatedly raised tariffs on China, drawing a strong response from China.

In April, investors sold U.S. Treasury bonds en masse, causing the 10-year Treasury yield to rise by the largest margin in decades. Some investors began to question America's long-standing status as a leading global market. At that time, JPMorgan warned that the tariff war could push the U.S. economy into a recession.

On April 15, when Dimon was interviewed by the British Financial Times, he urged the U.S. to engage with China as soon as possible, "starting tomorrow." He pointed out that "decoupling" from China should not be the goal of the U.S. government.

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

Dimon has been in charge of JPMorgan Chase for nearly twenty years and is one of the most influential figures on Wall Street. CNBC mentioned that during the recent Morgan Chase Bank Investor Day meeting, Dimon pointed out that over the past decade, JPMorgan Chase was one of the few companies with a return rate exceeding 17%. However, at the same time, Dimon bluntly warned of the dangers facing the U.S. economy.

"If you look back at the previous decade, you'll find that many companies had yields exceeding 17%," Dimon said at the time. "But almost everyone went bankrupt. Virtually all large financial institutions in the world came close to bankruptcy. This world is cruel."

CNN reported that just as Dimon issued his latest warning, Trump's measures have significantly weakened trade between the United States and China, the world's two largest economies. Recently, after various adjustments to Trump's tariff policies, they have been involved in court rulings within 24 hours, with three rulings adding more uncertainty to the already tense Sino-U.S. relationship, potentially further affecting the global economy.

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

Original: https://www.toutiao.com/article/7510410298961101375/

Disclaimer: The article represents the author's personal views. Please express your attitude by clicking the [Like/Dislike] button below.