JPMorgan Chase CEO Jamie Dimon is calling for a major reset in economic ties between the U.S. and Europe, arguing that closer trade and stronger European economies could reinforce the Western alliance. In a Wall Street Journal opinion piece, Dimon proposed that Washington offer Europe a broad economic and free-trade agreement if the bloc carries out reforms aimed at improving growth, financial markets and security.
Dimon said Europe should complete its Capital Markets Union and Banking Union, strengthen defense production, reduce strategic dependencies and make it easier for innovative companies to scale. He also pointed to the recommendations of the Draghi report as part of the broader reform agenda. In his view, a stronger European economy would make the region a more capable economic and security partner for the U.S.
The proposal comes as the Trump administration continues to pursue a more protectionist trade policy, including tariffs on major trading partners. Dimon argued for a different approach, suggesting that a U.S.-Europe agreement could eventually expand to other allied democracies, including Canada, Mexico, Japan, South Korea, Australia and the Philippines. He said deeper economic ties could also strengthen cooperation on security and help allies respond to pressure from authoritarian states.
Dimon has made similar arguments about Europe before, including in previous JPMorgan shareholder letters, where he called for stronger economic integration, increased defense capabilities and closer trade ties with U.S. allies. JPMorgan has also expanded its own security and resiliency initiatives across Europe this year, focusing on critical industries and supply chains. His latest proposal therefore extends a broader argument he has made repeatedly: stronger economic links between the U.S. and its allies can also serve wider strategic interests.
