JPMorgan confirmed it had won an auction to hold a majority equity stake in its ...
FILE PHOTO - A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files
The move comes against the backdrop of a rapid escalation in the U.S.-China trade conflict, with Washington designating Beijing a currency manipulator and U.S. President Donald Trump vowing to impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept. 1.
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