They also said they have found a person to head up the venture that their two companies, plus Amazon, are forming to attack the health care system's high costs and quality problems.
Investors Buffett and Dimon are encouraging public companies to stop predicting their quarterly earnings and focus on long-term goals.
The two men noted that companies often hesitate to spend on technology, hiring, and research and development in order to meet quarterly earnings guidance that can be impacted by seasonal factors beyond their control, such as political events and even weather.
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Trump announced worldwide tariffs on steel and aluminum imports in March, with an an exemption for some trading partners. He was also very forceful when he shook the hand of the Japanese Premier Shinzo Abe at the White House in June 2017.
Dimon is the chairman of the Business Roundtable, an association of CEOs of America's leading companies working to promote a thriving USA economy. In an interview earlier today on CNBC, Warren Buffett and Jamie Dimon told viewers to "beware" of bitcoin.
(FILES) This file photo taken on September 12, 2016 shows Jamie Dimon, chairman and CEO of JPMorgan Chase at the Economic Club of Washington, DC in Washington, DC.
Securities laws require quarterly reports on profits, revenue and other information but do not require quarterly forecasts.
When the actual earnings results are officially reported, so-called beats - or profit results that top expectations - are often rewarded with a rise in the stock price.
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Warriors guard Stephen Curry attempts a layup with LeBron James lurking in the third quarter of Game 3 of the 2018 NBA Finals. Golden State would be the first team to be responsible for two sweeps, as the 1975 Warriors swept the Washington Bullets.
"It can put a company in a position where management from the CEO down feels obligated to deliver earnings, and therefore may do things that they wouldn't otherwise have done", Dimon said.
Quarterly earnings guidance works like this.
Business Roundtable President & CEO Joshua Bolten said, "An outsized emphasis on quarterly earnings per share projections undermines the importance of investments in infrastructure, workforce development and other crucial capital expenditures that drive sustained US economic growth".
Proponents of the practice say it improves communications with investors and ultimately results in fewer, not more, wild swings in stock prices.
China hacked sensitive US Navy undersea warfare plans
US officials believe China has for years carried out hacking attacks on the USA military, the USA government and US companies. Both media outlets cited unnamed officials and the contractor targeted in the cyber attack was not identified by either.