Adjunct Professor Matthew Gold appeared on CNBC’s “Squawk on the Street” to discuss ongoing trade talks between the U.S. and China, and who stands to lose.
I see these tariffs going past 2021. I think President Trump has dug himself into a hole here and I don’t see any clear way of him climbing out of it between now and after the re-election. I think if we get a different president in, in 2021, they will probably roll back all of these retaliatory tariffs very quickly. I think if President Trump is president after 2021 I think he’s still going to have a battle with the Chinese. He doesn’t have as much leverage as he thought he was going to have, and he’s not getting at the negotiation table, the concessions he was looking for.
Trade tensions a lose-lose situation all around, says JP Morgan’s Joyce Chang from CNBC.