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Trump doesn't realize the impact trade war could have on his voters, asset manager warns [CNBC]

ALLIANCEBERNSTEIN (AB)  More Company Research Source: CNBC
Last alliancebernstein earnings: 7/26 06:49 am Check Earnings Report
PDF show chapters President Donald Trump's administration is failing to recognize the negative effect America's trade dispute with China and other countries will have on his voters, an investment chief told CNBC. Mark Phelps, chief investment officer of concentrated global growth at AllianceBernstein, said that the prime victim of the sparring of tariffs between the U.S., China and others will be consumers, because companies will likely conclude that they need to raise prices to deal with a downturn in imports from trading partners. At the moment, most of the companies I know that sell, particularly from China, into the United States are just at the moment talking about putting prices up, I don't think they're going to stop selling, Phelps told CNBC's Squawk Box Europe. Who is that going to affect? The U.S. consumer, he added. I'm still not sure the Trump administration realizes quite how negative that may be to some of his voters when they rea [Read more]

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