Trump's trade skirmish with China is 'like a WWE wrestling match'

pulse

April 17, 2018 4:44 PM

"There's an awful lot of talk, but not a lot of damage likely to be done," Mike Bell, a global market strategist at JPMorgan Asset Management said on Tuesday.

Trump's trade war with China resembles a "WWE wrestling match," according to Mike Bell, global market strategist at JPMorgan Asset Management.
"There's an awful lot of talk, but not a lot of damage likely to be done," Bell told journalists.
Currently announced tariffs represent less than 0.3% of GDP for both China and the USA.

Bubbling tensions between the USA and China over trade are like a "

"My broad view is that this trade war is a little bit like a WWE wrestling bout. There's an awful lot of talk, but not a lot of damage likely to be done," Mike Bell, a global market strategist at JPMorgan Asset Management told journalists on Tuesday.

Speaking at an event to mark the launch JPMAM's quarterly Guide to the Markets, Bell said that the scale of the conflict between the Trump administration and China's ruling party is being overplayed, and that the "panic" which has hit markets in recent weeks is an overreaction.

"25% of $150 billion is about $37.5 billion. That seems like a large number, but when you put it in perspective, it's about 0.3% of Chinese GDP. That same $37.5 billion is about 0.2% of US GDP," he said.

"I'm not for a moment going to argue that if we get a full-blown trade war that's going to be anything other than bad for the global economy," he concluded.

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