Dimon Sees Investors 'Holding Back' Amid Uncertainty

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00:00You know, I spoke to a lot of investors here.

00:02They're thinking about the asset allocation to the United States.

00:04Will they diminish that? Possibly.

00:07Is America a bad investment destination? No.

00:10If you were to take all of your money and put it in one country, it would still be America.

00:15I mean, it's still the most prosperous nation on the planet.

00:17It's got the best military on the planet.

00:19It's got huge amounts of innovation.

00:22People are catching up. That's a good thing.

00:24You know, China's doing some very good innovation in medical and AI,

00:28and we should assume they're going to continue to do that.

00:30But America's still got the best.

00:31Our GDP per person is $85,000.

00:34You know, China is $15,000.

00:36We don't have anything to be ashamed about.

00:38We should fix our problems because we could grow a lot faster, which helped all of our citizens.

00:42But if you put too many tariffs and actually too much uncertainty,

00:45does that not squander actually a lot of the assets that the U.S. has?

00:48A little bit. I mean, I think they're doing the right thing now, which is to back off of it.

00:51But, you know, the Secretary of Treasury do the hard work of figuring out what's the right thing to do.

00:56If they're unfair trade things, do something about it.

00:59You know, but they have backed off of specific things in specific industries.

01:03And I think that's the right thing to do.

01:05I think the first thing was very large.

01:07You know, it's got everything in everywhere all at once.

01:09And now they're, you know, kind of backing to where I think they should be.

01:13But even at this level, it causes that kind of uncertainty.

01:16Even at this level, you can see people holding back on investment and thinking through what they want to do.

01:21You know, thinking about, you know, how much you're going to put in the United States.

01:24I mean, we're going to be okay, but it is causing that uncertainty.