Siladitya Ray is a reporter on the Forbes news team who covers major world news stories breaking overnight with a focus on technology and online platforms. He joined Forbes in 2020 and works in New Delhi.
JPMorgan Chase CEO Jamie Dimon on Wednesday said the U.S. and the West should be prepared to fully engage with China even though it poses “tough competition”, a day after President Joe Biden unveiled a series of new tariffs targeting Chinese imports including steel and electric vehicles.with the U.K.’s Sky News, Dimon said the latest round of tariffs will ramp tensions up “a little bit” adding that while China has engaged in “some unfair trade…they sell very few EVs” in the U.S.
The JPMorgan CEO acknowledged as long as “China is kind of on the side of Russia, we’re going to have a hard time” and the Taiwan issue will “always create problems” until it resolves properly. Dimon said the right thing to do would be to “fully engage” with China and while the country poses “tough competition” and has its differences with the West “it doesn’t have to be war.”
When asked about whether Chinese President Xi Jinping’s recent visit to France was a sign the EU was acting a little too warm towards Beijing, the billionaire disagreed, saying French President Emmanuel Macron brought up issues that France was not happy about “but I think they are for…thoughtful engagement.”We’re launching text message alerts so you'll always know the biggest stories shaping the day’s headlines.
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