JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon put the odds of the U.S. and China reaching a trade deal at 80 percent, sounding a note of optimism even after the rising specter of tariffs roiled global markets.
Despite the recent increase in tensions between the sides triggered by tweets from U.S. President Donald Trump, the bank chief said in an interview with Bloomberg Television that it remains probable there will eventually be an agreement. He said, however, that global growth would be hit if the talks go “really south.”
Now we have this whole kind of little bump in the road,Sometimes his tweets don’t pan out to be as bad. I don’t think they’ll get the deal done by Friday.
Trump on Sunday threatened to raise tariffs on Chinese goods starting Friday, casting the outlook of trade talks in doubt and causing turmoil in global markets, which had been taking an increasingly bright view of the negotiations. The S&P 500 Index is down 2.1 percent this week, while the benchmark gauge in Shanghai has fallen 5 percent.
Amid the rising tensions, China’s top trade negotiator, Vice Premier Liu He, will visit the U.S. for talks this week, though the government initially considered a delay. Liu is due to meet with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, on May 9 and 10, according to an official announcement.Read More
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