Trian Partners’ Nelson Peltz praised President Donald Trump on Thursday for his tough stance on trade.
“The president is doing some really brave things,” Peltz said at The Deal conference in New York City, run by CNBC’s “Mad Money” host Jim Cramer.
The Trump administration is pushing several countries on trade, including China, where it just announced tariffs on $50 billion worth of imported goods, and Canada, the EU and Mexico. The three have threatened to retaliate on imports of a number of American goods after Trump imposed tariffs on their steel and aluminum imports after briefly exempting them.
Negotiations with Canada and Mexico on the 24-year-old North American Free Trade Agreement are also underway, though any resolution might not come until next year. Earlier this week, White House economic advisor Larry Kudlow told “Fox & Friends” Trump was considering talking to the two countries separately on trade. Canada’s Prime Minister Justin Trudeau has already said no to that.
“At the end of the day he’s a great negotiator,” the activist investor said. “I don’t think we will end up with a trade war.”
— CNBC’s Liz Moyer contributed reporting
CORRECTION: This story has been updated to reflect that White House economic advisor Larry Kudlow made the remarks about separate trade talks with Canada and Mexico on “Fox & Friends.”