Home Finances Huawei’s CEO Says He’s Ready For A Financial Battle With Trump

Huawei’s CEO Says He’s Ready For A Financial Battle With Trump


Hedge fund investors realize there’s a financial and economic storm in the works. Many of those money-hungry moguls blame Trump for the chaos that continues to erode GDP growth and asset appreciation.

Smart investors know it’s not one Trump foreign policy decision or one trade or tech decision that will throw the country into a recession. It is a combination of the president’s border wall fight, his immigration debacle, his trade war with China, and his quest to level Tehran that will bring the U.S. economy to its knees. Trump is in the process of creating a perfect financial storm. That storm will engulf countries around the world. Most economists think a global recession is just a year away.

Mr. Trump told the press China’s President Xi will meet with him at the G20 Summit. Trump said Xi wants to complete the trade deal, but according to the Chinese news agency, Xi won’t let Trump shame him into signing a trade deal.

President Putin met with President Xi to talk about the financial and economic blowback from Trump’s tariffs and sanctions. Both men say Trump’s foreign policy and his war with Iran could upset the world’s supply chain as well as turn the Middle East into a bigger mess than it is now. Russia and China back Iran, not Trump. Plus, both men say Trump should allow North Korea to gradually end their nuclear program.

Trump’s tariffs continue to damage the U.S. economy. New government reports say the U.S. economy is in free-fall mode. Economists say Gross Domestic product growth at the end of 2019 will be less than two percent. And they also predict a U.S. recession in the second quarter of 2020.

Trump wants to fire Fed Chair Jerome Powell for not cutting interest rates. Trump blames the Federal Reserve for the economic slowdown. He wants Powell to cut interest rates by at least one percent. But Powell told the press the Fed board might cut rates by a quarter of a percent in September if Trump continues to make stupid financial decisions like banning Huawei.

Huawei is ready to take on Trump. Huawei’s revenue in 2018 was $100 billion. Ren Zhengfei’s company is the largest tech company in the world and the second largest smartphone maker. Huawei plans to sue the Commerce Department, plus Ren plans to enforce some of the 59,000-plus tech patents Huawei owns. Ren told the press the $30 billion loss from the U.S. ban won’t stop his company from being an important part of the Tech industry’s future.