Overview

• At the 2025 Reagan National Economic Forum, Dimon identified domestic mismanagement—spanning regulation, permitting, immigration, taxation, education and healthcare—as America’s biggest growth obstacle.
• He highlighted that US national debt has surged to 100% of GDP with deficits nearing 7%, warning a recession could drive the deficit above 10%.
• Dimon cautioned that China remains unbowed by US tariff pressures and is unlikely to reverse course in trade negotiations.
• He argued that fixing internal issues could enable the US to achieve sustained 3% annual economic growth.
• Recent US tariff hikes—including plans to raise steel import duties from 25% to 50%—have escalated market uncertainty and intensified tensions with Beijing.