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JPMorgan’s Jamie Dimon Says He Expects U.S.-China Phase-One Trade Deal

  • ‘Negotiated deal’ after phase one will be difficult, he says
  • Dec. 15 levies will weigh on economic growth, Dimon says
Jamie Dimon
Jamie DimonPhotographer: Andrew Harrer/Bloomberg

JPMorgan Chase & Co.’s Jamie Dimon said he expects to see a phase-one trade deal between the world’s two largest economies, but warned that an additional wave of tariffs from the Trump administration would hit markets and U.S. growth.

The White House is expected to increase levies on $160 billion of imported Chinese consumer items including toys and smartphones on Sunday, which the JPMorgan CEO said would further weigh on gross domestic product. He spoke at an event in Washington for the Business Roundtable, a Washington trade group that represents the CEOs of the largest U.S. companies.