Jamie Dimon tells the Davos Elite they failed making the world a better place and calls Trump's America First fine, as long as it doesn’t end up being America Alone

The Greek Courier

When Jamie Dimon took the stage at the World Economic Forum in Davos, he criticized the "Davos elite" for their failures and challenged Donald Trump's risky business plans for the world.

During a discussion about whether there exists a “climate of fear” among America's CEOs regarding White House policies, Dimon turned his arrows against the elite audience. His remarks served as a critique of high-level gatherings that, in his view, have failed to improve global circumstances.

“I’ve been coming to Davos all these years and listen to chatter and stuff like that,” he said. “And you didn’t do a particularly good job making the world a better place. I think it’s great we get together and talk.”

The questioning inevitably shifted towards Trump’s policies and their impact on the economy and geopolitical landscape. Dimon avoided black-and-white categorizations, stressing the complexity of the issues at hand. “I’m not a tariff guy, though I’d use it in some cases,” he stated, while emphasizing the importance of a stronger NATO and Europe—goals that he believes could be undermined by some of Trump’s actions.

Dimon's position illustrates a stark contrast to Trump’s more nationalistic approach, particularly his use of tariffs as a bargaining tool. While Dimon acknowledges the necessity for addressing trade imbalances, he raises concerns about the implications of isolationist policies on global alliances. In a world increasingly defined by interdependence, Dimon advocates for unity among allies, stating, 

"Economics is the longtime glue, and America First is fine, as long as it doesn’t end up being America Alone."

The JPMorgan CEO has offered a somewhat supportive stance toward certain Trump policies, recognizing the administration's efforts to reform trade and immigration. However, he has also criticized aspects of Trump's approach, such as a proposed $100,000 fee on H-1B visas, which are essential for hiring specialized foreign workers in the tech sector. Dimon’s concern over this fee underscores his belief in maintaining a robust and skilled labor pool in the U.S.

In a more unified message, Dimon reiterated the necessity for a stable Europe, warning that economic weakness could lead to unacceptable fragmentation reminiscent of pre-World War II conditions. “If Europe’s economic weakness leads to fragmentation, the landscape will look a lot like the world before World War II,” he stated, articulating a vision that diverges sharply from Trump’s America-first ethos.