US President Donald Trump’s tariff attack shook countries around the world and its impact is still visible. Be it India, Japan or China, a situation of trade war was created due to tariffs. JPMorgan Chase has given a big warning regarding America’s trade policies. JPMorgan Chase CEO Jamie Dimon has warned that if anti-trade policies continue in the US, an economic crisis like Europe may be seen.
‘Then US will start following Europe’s path’
According to a report published on Business Today, JPMorgan Chase CEO Jamie Dimon issued a warning regarding US Trade Policies, saying that due to these anti-trade policies, companies are moving out of cities, due to which America India may have to face an economic decline like Europe. Dimon gave this warning while speaking at the American Business Forum in Miami. He has said that if no necessary steps are taken in this regard, then in 30 years America will be seen following the path of Europe.
Demon said – steps have to be taken from now on
Jamie Dimon described the declining GDP growth in European economies as a warning. Along with this, he blamed high taxation as well as over-regulation for weakening the business environment. Dimon warned that American cities and states need to act now to remain competitive, or risk losing companies to areas with more business-friendly policies.
Will have to face migration!
This big warning from JPMorgan Chase is special for America, because even though President Trump claims to fill the treasury regarding the tariff, it has had a negative impact on the business sector including inflation and experts have been seen continuously criticizing it.
Dimon also warned that states and cities that adopt an unfavorable business environment will face reduced capital investment and brain drain. He said that competition will be seen everywhere, between countries, between states and between cities. States that are pushing businesses out will have the opposite effect.
Too many rules are often harmful
Jamie went on to say that somehow the notion of being anti-trade will help average American citizens, even low-wage ones, but I don’t agree with that concept. He said such policies reduce the tax base and harm the very people they are intended to help. According to Dimon, excessive regulation often hurts small businesses and low-income people more than large corporations.
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