JPMorgan Chase & Co. CEO Jamie Dimon says the dollar’s reserve currency status depends on a dominant US economy. He wants Washington to secure trade deals with allies to protect it.

Dimon made the case this week in a Bloomberg Tech interview with anchor David Westin. He also published a Wall Street Journal op-ed on Monday.

Why Jamie Dimon Ties the Dollar to Trade Deals

Dimon argued that the best military and the dollar’s reserve role both depend on having the world’s best economy. He said this is not fantasy, pointing to the US position between the Atlantic and Pacific oceans.

Therefore, Dimon wants the western world kept together for trade. He said foreign investors hold $20 trillion to $30 trillion in the US. Meanwhile, American companies hold nearly equal sums abroad.

Dimon also cited 40 military alliances and 20 free trade agreements. The Office of the US Trade Representative (USTR) counts free trade agreements in force with 20 countries.

He conceded that unfair treatment should be fixed. However, his priority is finishing the deals.

“But my view is we should try to get these trade deals done.”

Jamie Dimon, CEO of JPMorgan Chase & Co., told Bloomberg.

What the Pitch Means for Markets

His Wall Street Journal op-ed went further. Dimon proposed a sweeping US-Europe free-trade agreement in exchange for European economic and military reforms, CNBC reported.

He said the pact could later extend to Canada, Mexico, Japan, South Korea, Australia, and the Philippines. In contrast, the Trump administration has pursued protectionist tariff policies, according to the same report.

Dimon has long criticized Bitcoin (BTC). Strategy CEO Phong Le recently made the half-joking claim that Dimon privately backs Bitcoin. For crypto investors watching dollar strength, the interview ties currency dominance to trade policy.

Whether the administration moves from tariffs toward new agreements will show if Dimon’s argument gains traction.

Source: BeInCrypto