Fed's Kaplan says trade issues with China to go on for years

WASHINGTON, Dec 17 (Reuters) – A “phase one” trade agreement that reduces some U.S. tariffs in exchange for increased Chinese purchases of American farm goods that was agreed last week between Washington and Beijing does not mean tensions are going to fully dissipate any time soon, Dallas Fed President Robert Kaplan said on Tuesday.

“‘Phase one’ is better than not having a ‘phase one’ but it doesn’t mean there won’t still be trade uncertainty,” Kaplan said in an interview with Bloomberg TV. “I think the trade issues with China are going to go on for…years.” (Reporting by Lindsay Dunsmuir; Editing by Chizu Nomiyama)

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