(Bloomberg) -- Jeffrey Gundlach, chief investment officer of DoubleLine Capital, sees a better than 50 percent chance that there will be an increase in U.S. tariffs on China.
“We're going to keep seeing more tension” around trade issues, Gundlach said in an interview on CNBC Tuesday.
China's top trade negotiator Liu He will travel to the U.S. this week for high-stakes talks as prospects dimmed for maintaining a fragile truce after President Donald Trump threatened to raise tariffs on Chinese goods starting Friday.
Global markets have been roiled amid mounting U.S.-China trade tensions and comments last week by Federal Reserve Chair Jerome Powell.
Other comments by Gundlach included:
- U.S. stocks are in a bear market because they haven't returned to last year's highs.
- The U.S. debt and deficit are “out of control” because they're growing during a strong economy, leaving little room to maneuver.
- Fed's Powell, during his last press conference, “looked scared.” The U.S. economy is “rudderless,” Gundlach said.
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To contact the reporter on this story: John Gittelsohn in Los Angeles at johngitt@bloomberg.net
To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Vincent Bielski
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