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Trade war

JPMorgan's Dimon fears 'serious repercussions' if US-China talks fail

Letter to shareholders calls risks to Chinese economy 'legitimate' but 'manageable'

JPMorgan Chase CEO Jamie Dimon told shareholders in his annual letter that concerns over China are "legitimate" but "manageable."   © Reuters

NEW YORK -- Jamie Dimon, CEO of JPMorgan Chase, America's largest bank, sounded the alarm Thursday over the Sino-American trade talks if the two sides cannot come to terms.

"We believe the odds are high that a fair trade deal will eventually be worked out -- but if not, there could be serious repercussions," Dimon wrote in a shareholder letter released that morning. His annual letters, much like those of Berkshire Hathaway CEO Warren Buffett, are closely followed and dissected by market watchers.

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