JPMorgan Chase CEO Jamie Dimon has proposed a sweeping new free trade agreement between the United States and Europe aimed at countering China's economic power. In a Wall Street Journal op-ed published Monday, Dimon urged the U.S. to push Europe toward major economic and military reforms in exchange for negotiating what he called a "big, beautiful economic and free-trade agreement." He said the pact could extend to other democratic nations including Canada, Mexico, Japan, South Korea, Australia and the Philippines, calling such trade ties "an economic and geopolitical game changer" that would let the U.S. and its allies "set the global rules on trade." Dimon argued that a Europe able to mobilize capital, scale innovative companies and generate stronger growth would be a more capable security partner and a stronger counterweight to China, and he outlined three pillars of U.S. global leadership: military strength, economic dominance and a renewed commitment to American values. He set a goal of 3% annual U.S. growth, estimating that achieving it over the past two decades would have raised GDP per capita by $20,000, and warned that economic fragmentation now extends beyond tariffs to investment policies, regulations and World Trade Organization rules.
JPMorgan Chase & CoCEO Jamie Dimon proposes a US-Europe free trade pact, a trade-policy proposal that could reshape global trade rules but has no direct near-term financial impact on JPMorgan.
