J.P.. Morgan CEO Jamie Dimon expects the US and China to reach an agreement to extend the trade bargaining deadline before the beginning of March.
At the end of last year, the two nations had agreed to cease additional tariffs for new trade talks with the aim of reaching an agreement before the deadline in March following Trump's meeting with Chinese President Xi Jinping in Argentina.
Should Beijing and Washington fail to agree on a permanent solution, President Donald Trump said he will step up punitive tariffs on about half of Chinese exports to the US Dimon is also optimistic that the two nations will come to a permanent trade agreement, after elaborating differences in the enforcement of intellectual property rights and other contentious issues.
"I think it's important to make the strategic relationship fair and fair, especially for us, and not just for us, but for the Europeans, for the Japanese," added Dimon. "I think both parties want to do that."
Davos bank chiefs' comments came one day after a source familiar with the Trump government's trade negotiations told CNBC that a trade planning meeting with Chinese deputy ministers had been canceled due to outstanding issues. "Disagreements between the parties.
The White House Economic Adviser, Larry Kudlow, later denied that an official meeting had been canceled, and told the CNBC on Tuesday that there were no interim meetings, except Vice Premier Liu's visit next week.