President Donald Trump may believe that it’s easy for the United States to win a trade war. But Wall Street begs to differ.
The market’s stumble is a clear sign that a drawn-out trade war would not be good news for anyone, according to Jeremy Siegel, a finance professor at the University of Pennsylvania’s Wharton School of Business.
Trade war could hit stocks and economy
And that’s why Siegel thinks Trump will eventually realize he must ink a new deal before the market — and the broader economy — takes an even bigger hit.
« A year from now, we can’t be lower on the stock market than we are, and our economy has to be better. So it’s up to Trump make a deal, » Siegel told CNBC in May.
Siegel will be talking more about the impact of the trade war with CNN Business editor-at-large Richard Quest on the « Markets Now » live show Wednesday at 12:45 pm ET.
