Mark Mobius: Here's why Trump won't actually start a trade war
Emerging markets fund manager Mark Mobius doesn’t think there will be a trade war if Donald Trump is elected president.
Trump’s positions on trade—including raising tariffs on Chinese imported goods—have raised concerns that we could end up in an all out trade war between the US and China.
Speaking at the SALT Conference in Las Vegas on Friday, Mobius, the executive chairman of Templeton Emerging Market Group, said it won’t come to that. He thinks Trump will get deals done.
“When people ask me, I say, ‘I don’t like what he says, but I like the way he says it,” Mobius said.
He continued: “[Trump’s] a great negotiator. He’s flexible. I don’t see any of these things about trade wars coming to pass. I don’t see it. I think he will negotiate and get deals done. And I think that’s the important thing.”
Finance veterans throw support for Trump
Trump has been a big topic at the SALT Conference, a hedge fund industry event attended by more than 2,000 in the industry.
Billionaire energy tycoon T. Boone Pickens reiterated his support behind Donald Trump for president on Wednesday.
"Yes, I’m for Donald Trump," he said.
Pickens, 87, said that the immigration policy needs to change. He also agrees with Trump’s idea to propose a ban on Muslim immigration into the US.
“I like his immigration policy," Pickens said. "I didn’t say it’s permanent. But I’d cut off the Muslims coming into the United States until we can vet these people."
“We’ve got to know," he continued. "We all look too much alike. I mean we’re coming into the United States— the three of us— they can’t tell by looking at us. They can tell I’m the oldest or something."
As the presidential election quickly approaches, more and more high-profile names on Wall Street will likely come out in support of one candidate or another. Many have put their support behind the unlikely Trump. At the very least, they warn we should be prepared for a Trump presidency.
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Julia La Roche is a finance reporter at Yahoo Finance.
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