J.P.. Morgan Chase CEO Jamie Dimon did not condemn the White House's decision to compete with China. Even if it is a resistance in the short term.
The two largest economies have come into a stalemate over the trade, each of which imposes billions in tariffs on each other's goods. Washington and Beijing came closer to an agreement during the trade talks this week. Negotiators, however, still need to work out details as they push for a final summit between Chinese President Xi Jinping and President Donald Trump.
have made great progress. Details are important, said Dimon.
"We do not want a soybean deal, and if they agree to buy $ 200 billion worth of goods from us, the problem is not solved," said Dimon during the discussion moderated by David Rubenstein, co-founder and co-executive chairman of the Carlyle Group.
The tariff series imposed by both countries shook the financial markets and caused concern over their impact on both economies. Dimon was optimistic about the US economy and said he was not worried about an immediate recession.
"The US is chugging," said Dimon. "Forget the noise ̵