Jamie Dimon Proposes Trade Pacts to Revitalize Western Strength

Jamie Dimon, chairman and CEO of JPMorganChase, proposed a strategic plan to restore the geopolitical and economic strength of the Western world. He argues that maintaining U.S. global leadership requires a combination of military pre-eminence, reinvigorated American values, and domestic economic policies capable of achieving 3% annual growth.

Dimon urges the United States to utilize industrial and trade policy tools to protect national security while negotiating a comprehensive free-trade agreement with Europe. He suggests this pact could eventually expand to include Japan, South Korea, Australia, the Philippines, Canada, and Mexico. To further protect allies from mercantilist behavior, he advocates for the resurrection of the Transatlantic Trade and Investment Partnership and the Trans-Pacific Partnership.

Addressing Europe, Dimon calls for urgent economic and military reforms, specifically referencing recommendations by Mario Draghi and Enrico Letta. He encourages the European Union to complete its Banking Union and Capital Markets Union to better compete with China and counter regional decline.