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Nelson Peltz: Trump 'Doing Some Really Brave Things' on Trade

Nelson Peltz: Trump 'Doing Some Really Brave Things' on Trade

By    |   Thursday, 07 June 2018 04:20 PM

Billionaire investor Nelson Peltz applauds President Donald Trump’s hard-line trade tactics.

"The president is doing some really brave things," Peltz said at The Deal conference in New York City, run by CNBC's "Mad Money" host Jim Cramer.

With his new tariffs increasing U.S. isolation, Trump heads to Canada on Friday for a meeting of the Group of Seven industrialized nations. The White House is expecting a chilly reception from Canada and West European countries, already frustrated over Trump's withdrawal from the Paris climate accord and the Iran nuclear agreement, the Associated Press explained.

"At the end of the day he's a great negotiator," the activist investor said. "I don't think we will end up with a trade war," said Peltz, whose $9.9 billion Trian Partners fund company has stakes in companies including General Electric, Mondelez International, Procter & Gamble, Sysco and Pentair, CNBC.com reported.

Anticipating a tense two days in Quebec, Trump has complained about having to attend the summit, particularly since it comes just before his high-stakes meeting in Singapore with North Korean leader Kim Jong Un, said two people with knowledge of his thinking. But the White House has signaled no change in plans.

"The president wants to go on the trip," Larry Kudlow, Trump's top economic adviser, said of the summit in Canada. "The president is at ease with all of these tough issues," said Kudlow.

"There are disagreements. He's sticking to his guns. And he’s going to talk to them," Kudlow, Trump's top economic adviser, told reporters in Washington. "The lines are open, the negotiations are ongoing," he said. "I regard this as much like a family quarrel."

Trump also is set to hold a series of one-on-one meetings, including with Canadian Prime Minister Justin Trudeau and French President Emmanuel Macron.

Trump is unlikely to back away from the nationalistic policies that have frustrated and unnerved allies but which he sees as key promises to his most loyal voters. Trump has highlighted his efforts on Twitter, writing Monday: "The U.S. has made such bad trade deals over so many years that we can only WIN!"

Kudlow said allies should understand that Trump "will do what is necessary to protect the U.S., its businesses and its workforce," adding that Trump "has always said, and I agree, tariffs are a tool in that effort."

(Newsmax wire services contributed to this report).

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Billionaire investor Nelson Peltz applauds President Donald Trump's hard-line trade tactics.
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Thursday, 07 June 2018 04:20 PM
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