US unreliable now: JP Morgan boss points to Canada's tilt towards India, China

JP Morgan CEO Jamie Dimon has warned that the current global scenario may not be good for the US in the long run, even as he remained diplomatic in his criticism of President Donald Trump. Speaking to The Economist on Canadian PM Mark Carney's "rupture in world order" assessment during his landmark address at the World Economic Forum, Dimon said America has not become unreliable but "less reliable".

"It's not a rupture," he said. "If you said to me, 'has America become unreliable?' No. It's just, you had total reliance, and now it's less reliable."

Explaining certain geopolitical occurrences that may prove to be problematic for America in the future, the CEO highlighted Carney's recent visit to China and potential trip to India this year. "We're causing some things that may not be good for America in the long run. Canada's PM Carney was in China, and now he's going to India," Dimon said, on the sidelines of the ongoing World Economic Forum.

Carney's visit to China earlier this month was a first by any Canadian head of state in eight years, marking a significant step in Ottawa and Beijing's diplomatic ties. The Canadian PM has also accepted Prime Minister Narendra Modi's invitation to visit New Delhi this year. Ottawa and New Delhi are also resetting ties following their worst diplomatic relations over allegations by ex-Canada PM Justin Trudeau about India's involvement in the killing of Khaslistani terrorist Hardeep Singh Nijjar.

Explaining why America has not become unreliable, Dimon said that the country is still a military ally to 40 countries. "When I talk to our military, they're geared up to defend their allies around the world. You know, Trump hasn't stopped all that. So, I just I, you know, I think it's time for people to take a little bit of a deep breath," the CEO said, adding, "That does not mean I like it all, you know."

The CEO's remarks came after Mark Carney's landmark address at the ongoing World Economic Forum in Davos, Switzerland. The Canadian PM's assessment was a prominent shift in Ottawa's strategic position on world developments. Though he didn't name Trump, he mentioned "American hegemony" and argued that great world powers are now weaponising economic integration. Carney also urged the middle powers of the world to forgo a system that no longer protected their interests, warning "if you are not at the table, you are on the menu".

The Canadian PM's remarks came at a time of deep global crisis, including Trump's tariff threats on a slew of nations, including many in the European Union.

Meanwhile, in a huge U-turn on Greenland, Trump announced on Wednesday that he would shelve the 10 per cent tariffs on eight European countries after a meeting with Nato Secretary General Mark Rutte on the sidelines of WEF 2026. The 79-year-old President said that the US and NATO have agreed on a framework of a future deal on the entire Arctic region, including Greenland.

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