Tariffs can cause ‘volatility and conflict’: business leaders

London – President Donald Trump’s trade tariff is a major concern between the US and the International Trade Leaders, a warning of further trouble with the Titans of the industry.

Speaking at CNBC’s convergence Live in Singapore, Brijwatter founder Ray Dalio warned of “fighting” between countries on duties.

He said, “Tariffs are causing a fight between countries … I am not necessarily talking about the army. But think about us, Canada, Mexico, China … There will be a fight, and it will result in consequences,” he said while talking to Sara Esen of CNBC on Wednesday.

Trump’s 25% of tariffs on aluminum and steel imports were effective on Wednesday, affected between regions and countries with the European Union, Australia and Canada. The American markets are in turmoil in duties this week.

Dalio said that the current environment is “an extension of the pattern of history” – as an example to Germany of 1930.

There was an increase in tariffs to promote revenue and along with the construction of the domestic base of the country, there was a right to debt at that time. “Be a nationalist, be protectionist, be military. This is the way these things are operated,” said that the drools said. “The issue is actually a conflict of all this,” he said.

Sales force CEO Mark Benioff described the mutuality between countries as “good”, if they treat each other in the same way. But he said “what and how” “are very important.” “If you can not put and how you can not put in a consistent, clear and meaningful way, you can end up with high level volatility and conflict,” the Benioff said, speaking in convergence.

Europe quickly retaliated with its own counter-tariff on US goods of 26 billion euros ($ 28.33 billion) starting next month.

European Commission Chairman Ursula von Der Leyen told reporters during a press conference on Wednesday, “Tariffs are bad, they are bad for business and worse for consumers, they are interrupting supply chains, they bring uncertainty to the economy.”

Trump appeared ineffective, saying that if proceeded with tariffs in April, additional duties will be applied to Europe. “Whatever they charge with us, we are charging them.”

Former British Prime Minister David Cameron said on Thursday that he was concerned about the trade war.

“I am worried about this because I am an independent businessman.

“I am afraid that Donald Trump’s approach to the world he sees a country and says that if you have found a surplus in business with me, you are shutting me down. This is not a matter. If there was a surplus in every country in the world, who would have a loss?

“, But, and it’s one important, but with Donald Trump, as he is saying, there is a real and understandable concern,” Cameron said.

In Pimco, Alec Caersman, managing director and chief of Asia-Pacific in Pimco warned of increasing risk of recession due to tariffs. There is a “probably 35% probability” that the US will enter a recession this year, by the CNBC’s Martin Song in Kanover Live, Pimco’s 15% estimate of December 2024.

Despite this, the cursman said, the base case scenario of Pimco is that the US economy will grow from 1% to 1.5%, “a significant decrease” from its earlier estimates.

The carsman advised the market participants to be “more patient” in terms of unbalanced investment. He said, “There is a lot of noise in the markets right now, and you want to give it three to six months before taking that action.” The tariffs will create “more different -different winners and losers”, and added, “the tendency of globalization is being redirected, and there are no other universal laws to behave capital.”

However, President and CEO of Principal Asset Management, Kamal Bhatia said that trade wars caused by tariffs mean consumers spend more at home.

Most people will reduce this potential increase in spending due to focusing on “external impacts” on GDP, Bhatia said in convergence live. Countries can go back to “to be the island,” he said, leading to patriotism and better than expected of better GDP growth.

The possibility of an increase in domestic spending was also brought by the President of Alibaba who was brought by Tsai. According to Nomura’s estimates, China’s domestic consumption needs to “need to be promoted,” thanks to tariffs and geopolitics, “Tsai said – the average effective American duty on Chinese goods is determined to reach 33%.

“Look at the Chinese consumer. They are very, very healthy. Domestic balance sheet is very, very strong. You are looking at $ 20 trillion bank deposits in homes. So, they are waiting to spend,” Tsai said.

Tsai said that he is “Glass Half of Half” about Trump’s business policy. “The Trump administration would like to do more American companies doing business in China,” he said. “Finally, you know, tariff may be a dialogue tool, but things will get better at some point,” he said.

Amala Balakrishner, Anik Bao, Katrina Bishop, Holi Elite and Sam Meredith contributed reporting.