• Jimmy Damon, CEO of JPMorgan The foreign policy and commercial tactics of the United States in the shadow of Trump can weaken long -term military and economic alliances, which may push allies like Europe closer to competing forces such as China and Russia. While America supports giving priority to its interests, Damon warned that the isolating allies could flourish the West, terrify the stability of global security, and reduce democratic power.

While billions of dollars have been eliminated outside the governor as a result President Trump’s introductory plansJimmy Damon, CEO of Jpmorgan Chase, is not related to the markets.

What really worries it is that The aggressive foreign policy of the White House may force the cracks between military and commercial alliances This has stood firm since World War II, allowing competing authorities to gain more impact.

The growing geopolitical tensions were at the top of the Damon’s concern for some time now, especially since the war between Russia and Ukraine.

With the presence of Europe now the focus of this conflict and a major partner for the United States, Damon warned the Oval Office against pushing the convenience to the arms of another world power.

“I think the most important thing is that we have not read a book for 40 years,” Damon told the newspaper “Damon”. Financial times in interview.

“I think it’s one thing for any nation or the United States to say,” I think this is unfair about trade, about the cost of the army – I think there are some very good points. I think Europe knows it needs to spend more on its army, but this does not mean that we should not have a military alliance with you. “

Military spending is the head of the bone waiting for Trump to choose with Europe, saying that the continent is not doing enough to protect itself and instead depends on the strength of Uncle Sam.

Data confirms that the European Union does not actually spend on this defense – As the United States Research Center, the Stockholm International Peace Research Institute (SIPRI) I found it In 2023, the United States spent $ 916 billion on the defense, which was 3.4 % of The nation’s gross domestic product.

On the contrary, and The European Council confirmed In 2023, the European Union and others spent 326 billion euros (370.5 billion dollars) on its army, which reached 1.9 % of European GDP.

There are some countries in the European Union and Europe spending more on their defense, with the United Kingdom, Germany, Ukraine and France in the top 10 expenditures, according to Cirri.

However (with the exception of Ukraine), none of these countries spent more than 2.3 % of GDP on defense.

Damon added a case that Europe raises its ideas is not just a military, saying: “[It’s] The same with the economy, they need to do more. The GDP of one person in Europe has decreased from something like 70 % of America to 50 %, it is not sustainable. I think Europe has already realized that it needs to change its rules, regulations and guidelines if it wants to go faster.

“In my opinion, the goal should be to strengthen Europe and bring it closer. Not to make them weaker and make them more. I think that the Western world is fragmented is a bad idea … and you can end up with a world similar to before the First World War and the Second World War, where almost every nation tries to try to protect themselves, and unfortunately this may lead to the spread of cores.”

America first, not America alone

in A message to the shareholders published earlier this month, Damon The United States has warned against setting the priorities of its own goals at the expense of its relations with the allies.

Man He paid $ 39 million To lead the largest bank in America in 2024 books: “If the economic weakness in Europe leads to the fragmentation of every country, each country will need to search for its own relations to secure its future … Such movements will eventually make these countries more dependent on China and Russia – over time, which makes it dependent countries.

“The economy has been glue for a long time, and America first is fine, as long as it does not end until America is alone.”

Demon, who will deliver the reins of JPMorgan at some point in the next five years, repeat this point when you speak to foot , He says he still has a belief that The American economy is the most powerful in the world, But this cannot lead to excessive confidence.

America “is still very strong, but yes, a lot of uncertainty is a little challenge … We hope that these definitions and commercial wars will settle and go away so that people can say” I can rely on America. ”

“I am not worried about the markets as much as I deal with the Western world together, free and safe for democracy, and this means for me that you want to enhance economic relations … We must be careful, I mean, I do not think that anyone should suppose they have a divine right to succeed, and therefore I cannot worry about it, I can never consider it. I will not carry anything though.”

This story was originally shown on Fortune.com

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2025-04-16 11:33:00