1/23/2019, 2:34 PM (Source: TeleTrader)
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Dimon hopeful on China trade talks despite 'serious' issues

JPMorgan Chase & Co. CEO Jamie Dimon told CNBC at the World Economic Forum in Davos on Wednesday that the trade issues between the United States and China are "serious" but expressed confidence the two countries will make enough progress in trade talks to further extend a deadline for reaching a deal.

Dimon noted he thinks Beijing and Washington are likely to reach "kind of agreements in principle" to extend the pause in their trade war beyond March in order to resume negotiations. "If you have tariffs put in place on March 1, that would be bad for the global economy," the JPMorgan CEO warned.

In December, China and the US agreed to pause new actions on protective measures for 90 days and focus on resolving their ongoing trade dispute. China said that the two countries "laid the foundations" for the resolution of the trade war during their most recent talks in Beijing. However, US Trade Representative Robert Lighthizer reportedly stated that the progress on the issues of intellectual property protections so far was not sufficient to resolve the dispute. The next round of trade negotiations is scheduled for January 30-31 in Washington.

Breaking the News / NP