The U.S. has slapped tariffs on billions of dollars worth of Chinese imports. China has retaliated with its own levies on U.S. goods. This skirmish has been going on for most of 2018 and has investors around the globe fearing tougher trade conditions could diminish corporate profits.
“China, a very strong, very proud nation, I think they’re going to stand firm. Privately, I think they will negotiate but I don’t think that has worked for them at the moment,” Fink said. “We had similar problems in our negotiations with Mexico and Canada. That was stalled and stalled and stalled until we came to a resolution.
Fink’s comments come ahead of an expected meeting between President Donald Trump and Chinese President Xi Jinping at this month’s G-20 summit of world leaders in Buenos Aires. In a tweet, Trump said he talked with Xi about trade and that the conversation was “long and very good.”