Scaramucci: Trade War Holds Back Capital Expenditures
Anthony Scaramucci thanked President Trump Thursday for helping to bolster the alternative investment industry after the 2017 Jobs and Tax Cuts Act.
However, he then warned the White House that CEOs are holding back capital investment due to Trump’s erratic stance on global trade.
As a guest host on Squawk Box Thursday, the former White House Communications Director said that executives are struggling to plan their capital spending plans due to the ongoing trade battle.
“We’re at war with China now. It’s a full-blown trade war,” Scaramucci said. “The White House should really tell people what the plan is and what we’re going to do. By the way, because of the lack of predictability on the tariffs, you have slowed down capital investment.”
He also said that the U.S. is lagging China when it comes to the long-term vision of this trade dispute. “Preparation and planning are the hallmarks of winning a war,” Scaramucci said, while also noting that “CEOs don’t know where things are going.”
Scaramucci still anticipates that Trump will easily win the 2020 election. During an interview with Squawk Box in early July, the SkyBridge founder predicted a 40-state landslide favoring the incumbent.
“What are you going to do?” he asked, noting the bulk of Democratic rivals. “You’re going to put a socialist in place and wreck the entire economy?”
Scaramucci also appeared on Big Brother… for a few minutes.
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