Former JC Penney CEO: China trade deal needed by end of year or retail's 'got a real problem' [CNBC]
JC PENNEY (JCP)
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Source: CNBC
Former JC Penney CEO: China trade deal needed by end of year or retail's 'got a real problem' The U.S. needs to work out a trade deal with China Questrom, who served as chairman and CEO at the department store chain from September 2000 to December 2004, said he expects President Donald Trump Xi Jinping "If the tariffs don't get solved this year then you've got a real problem," Questrom told CNBC's Brian Sullivan Fast Money "We've got two intelligence economies: One China, one United States," he said. "And I think they're going to come to their senses." SPDR S&P XRT The world's two largest economies increased tariffs on one another this month, with the U.S. making the first move by increasing duties on $200 billion worth of Chinese products from 10% to 25%. China announced plans to raise tariff rates on $60 billion in U.S. goods. The tactics amplified a fight that has rattled financial markets and threatened to drag on the global economy. During post-earnings conference calls this wee
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