JPMorgan CEO Dimon favors full engagement with China, Sky News reports

By Jerry  Published On May 15, 2024
May 15 (Reuters) – The U.S. government is doing the right thing by fully engaging with China, JPMorgan Chase (JPM.N), opens new tab CEO Jamie Dimon said in an interview, opens new tab with Sky News on Wednesday, adding that Beijing was a fierce competitor, but “not an enemy” of the Western world.
His comments came a day after President Joe Biden unveiled steep tariff increases on an array of Chinese imports, including electric vehicle batteries, computer chips and medical products.
China vowed retaliation, with its commerce ministry saying that Beijing was opposed to the tariff hikes and would take steps to defend its interests.
Dimon, the head of the biggest U.S. bank, said the Western world “had a good hand” in dealing with competition from Beijing, but tensions over the future of Taiwan would complicate relations.
A trade tiff could also potentially undo the efforts by Biden in recent months to ease tensions between the world’s two largest economies through one-on-one talks with Chinese President Xi Jinping.
Source: REUTER

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