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.
