Posted on 09/24/2019 11:58:28 AM PDT by Zhang Fei
WASHINGTON—President Trump’s sudden escalation of the trade war with China last month triggered a telephone call from billionaire casino owner Sheldon Adelson, who warned the president about the conflict’s impact on the U.S. economy and Mr. Trump’s re-election prospects, according to people familiar with the call.
During his call with Mr. Trump, Mr. Adelson focused on the broader implications of the U.S.-China trade war and their potential political consequences for Mr. Trump, according to one of the people, and not on his own company’s situation.
Mr. Adelson is chairman and chief executive of Las Vegas Sands Corp. The casino company has been operating in the Chinese territory of Macau since 2002 and now derives most of its income from there. In 2018, Macau accounted for nearly $9 billion, or roughly 63%, of Las Vegas Sands’ revenue.
Chinese state media have warned that American companies could pay a price in an unfettered conflict, and some companies, including FedEx Corp. , have already faced setbacks linked to the standoff.
Representatives for Mr. Adelson, a major donor to the Republican Party, have also spoken with members of Mr. Trump’s re-election campaign.
Besides Mr. Adelson, many U.S. business leaders believe the trade war poses increasing risks for the U.S. economy and together with the U.S. Chamber of Commerce have urged the president to resolve the conflict.
“Sheldon Adelson and President Trump have met and spoken about the broad concerns the business community has with the escalation of trade tensions between the two nations,” said Myron Brilliant, head of international affairs at the Chamber of Commerce, who has known Mr. Adelson for years.
Mr. Adelson is a powerful business voice and influence on Republican politics. During the 2018 midterm elections alone he and his wife donated $123 million—more than anyone else—to candidates and conservative causes.
(Excerpt) Read more at wsj.com ...
That impact being China’s economy would suffer while ours is still doing great?
Maybe Trump is doing what is right for the country even though it might hurt his prospects for winning in 2020. Remember that Trump doesn’t need the job.
Why do billionaires constantly fukk with the little people?
Once again, the more bylines the more BS...
Exactly. Trade is only 10% of the US economy. And Mexico, not China, is our biggest trading partner. We have already won the trade war with China. You notice no prices on Chinese goods at Walmart have gone up. If we get a deal with China we will have protected out exports and our intellectual property. If not, companies will continue to exit china for neighboring countries not subject to the tariffs and continue to sell us cheap goods. The US holds ALL the cards.
Sounds like he was more afraid of losing wealthy Chinese tourists dropping a load at his casino.
This is Adelson lobbying the president on his own behalf.
yawn.
Also the only US people this hurts is multinational companies and businesses making crap in China.
And China is subsidizing their exit from China by devaluing their currency. This gives those companies time to find a new place to build their stuff while the US consumer continues to enjoy stable prices.
RELEASE THE RECORDING OF THIS PHONE CALL!!!!!!!
He should just shut up, he can lose a few million or elect Sanders and lose his billion.
BINGO!!!!
The GM strike is going to have a big impact on the economic numbers, and Dems will use that against Trump.
It is no coincidence that only a small group, the Janitors, connected to SEIU, is actually on strike.
Adeldick better watch his step.
I don’t care how rich he is. His piggy bank in Macau is not important to Americans.
So he can choose which side he’s on.
And he better stop right now with the veiled threats to our President.
Sheldon Adelson.....the wealthiest man in Nevada worth north of $30 Billion, and still clueless.
What are we supposed to do, continue with $500 billion + trade deficits forever while the communist Chinese build up their military?
The trade war has been going on for years. But until Donald Trump came on the scene, only the Chinese were fighting.
Shut the f#%& up and get out of the way. MAGA.
according to people familiar with the call.
And who was likely 90% wrong.
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