JPMorgan Chase CEO Jamie Dimon, a leading voice in the U.S. business and financial community, said the U.S. cannot stand by and watch the fight between Ukraine and Russia, and said that within the Republican Party rejected demands from some in the United States to withdraw from the war.
in him annual shareholder letterMr. Dimon opposed international isolationism and called on the United States to unite across partisan divides by supporting Ukraine and lead democracies against the tide of authoritarianism.
“Remaining on the sidelines in the battle between dictatorship and democracy, dictatorship and freedom is not an option for America today. Ukraine is the front line of democracy. If the war ends badly for Ukraine… A breakup of Pax Americana could occur, and it would be a disaster for the entire free world,” Dimon wrote in Monday’s letter.
“Ukraine’s fight is our fight, and ensuring their victory is ensuring America First. We need our national leaders to explain to the American people what is at stake. And it is imperative that we strongly assert, with energy, consistency and clarity, our strong and enduring commitment to Ukraine’s survival for as long as necessary (and that could take many years),” he said. Said.
Mr. Dimon’s letter increases pressure on House Speaker Mike Johnson (R-Louisiana) to find a path to aid for Ukraine, which has stalled in Congress due to Republican opposition.
Mr Johnson himself faces the threat of a vote that would cost him his seat if the Ukraine aid passes in the House of Commons. Rep. Marjorie Taylor Greene (R-Ga.) threatened to force a vote on Johnson’s future.
Dimon argued in the letter that supporting Ukraine is in the best interest of the American people and said American leaders must do a better job of communicating that message to the public. He pushed back on the idea that funding for Ukraine represents an economic black hole, arguing that aid to Ukraine creates jobs and business in the United States and is good for the economy.
“Ukraine needs our help immediately, but it is important to understand that much of the money the United States is directing to Ukraine is going toward purchasing weapons and equipment, most of which will be manufactured in the United States. It’s important. Our aid is not only helping Ukraine, it’s going directly to American manufacturers and helping the country rebuild its military industry capabilities for the next generation,” Dimon said. stated in the letter.
Mr. Dimon also emphasized the importance of American leadership and overcoming partisan divisions that only support America’s enemies.
“America’s global leadership role is being challenged on the outside by other countries and at home by a polarized electorate,” Dimon said. “In the name of democracy, we must put aside our differences and find ways to work together with other Western countries. It is of utmost importance that we come together to protect the essential freedoms of our people.”
Mr. Dimon frequently uses his annual letter to shareholders to explore topics such as politics, regulation, and world order.
Despite concerns that the Ukraine war, the Israel-Hamas war, and political polarization “very likely create risks that overshadow anything since the world wars,” he said in the letter. He told investors he expects the U.S. economy to be resilient and grow this year. Second World War. ”
Dimon had endorsed former South Carolina Gov. Nikki Haley for the Republican presidential nomination before suspending his campaign, but in recent months he has offered some praise for former President Trump, the presumptive Republican nominee. Ta.
Speaking at the World Economic Forum in Davos, Switzerland in January, Mr. Dimon said of Mr. Trump: … He was right about NATO in a sense. He was kind of right about immigration. He grew the economy very well. Trade and tax reforms were successful. He was right about parts of China. ”
“I don’t like what he said about Mexico, but he was right on some of these important issues,” he continued.
Mr. Dimon also defended Mr. Trump’s supporters and accused Democrats of making them “scapegoats.”
“When people say ‘MAGA,’ they’re actually looking at the people who are voting for Trump, and they’re basically making them a scapegoat,” Dimon told CNBC in January. Squawk Box” said.
“I mean, can you really just stop doing that and actually be an adult and treat other people with respect and listen to what they have to say a little bit,” Dimon said during the show, adding: added. “This negative talk about MAGA negatively impacted Biden’s campaign.”
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