Jeremy Siegel: Trump needs to cut a China trade deal to keep the market strong for 2020
for Trump's slapping 25% tariffs on $200 billion worth Chinese imports on Friday. The index has fallen nearly 5% since its intraday all-time high set on May 1.to impose tariffs of the remaining billions of dollars worth of Chinese goods coming into the U.S.
"The market wants a solution. Don't forget, the market didn't really want this trade war to begin with," Siegel said in astocks could drop 10% to 20% if the U.S. and China were to dig in during trade talks, he said, "The market is going to continue to react" if Trump wants to push China to be the end.
"You can pull victory out of defeat. No one is really going to look at the details," the Wharton professor said, stressing that the president has a bully pulpit to cast any agreement with China as a victory even if it's just so-so.Get this delivered to your inbox, and more info about about our products and services.
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