“The U.S. and China will eventually be able to come to a trade deal, according to private equity billionaire David Rubenstein,” Huileng Tan reports for CNBC. “‘My view is this trade dispute will be more of a skirmish, not a war,’ Rubenstein told CNBC on Tuesday at the Barclays Asia Forum in Singapore.”

“‘I think there will be a resolution not unlike what happened in NAFTA. There was a back-and-forth, but ultimately a resolution occurred,’ said Rubenstein, who is also co-founder and co-executive chairman of The Carlyle Group,” Tan reports. “The tit-for-tat tariffs are ‘relatively modest’ compared to the sizes of the U.S. and Chinese economies on their own, he added.”

“‘I think it’s a bit of a mistake to worry too much that we won’t be able to come together with China. I think the United States administration wants to reach a deal and the Chinese want to reach a deal,’ he said,” Tan reports. “‘Obviously, what is said in public might not be what is really said in private, so I’m confident at some point this will come together,’ said Rubenstein.”

Read more in the full article here.

MacDailyNews Take: As we wrote back in August:

The tariffs are not the end game. They are bargaining chips and, due to the trade imbalance, the U.S. has 376 billion more chips with which to play than China ($506B – $130B). Hence the empty rhetorical threats from China’s state-run media. China’s running out of chips already.

This initial negotiation phase too shall pass. The end result will be better than the starting point.

I’m cognizant that in both the U.S. and China, there have been cases where everyone hasn’t benefited, where the benefit hasn’t been balanced. My belief is that one plus one equals three. The pie gets larger, working together. — Apple CEO Tim Cook, March 24, 2018

At least half of the popular fallacies about economics come from assuming that economic activity is a zero-sum game, in which what is gained by someone is lost by someone else. But transactions would not continue unless both sides gained, whether in international trade, employment, or renting an apartment. — Thomas Sowell, June 14, 2006

SEE ALSO:
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Cramer: Here’s why China won’t boycott Apple as part of its trade war with the US – August 7, 2018
Apple could be used as a ‘bargaining chip’ in the trade war, Chinese state-run media warns – August 7, 2018
Why the US-China trade war may not have much impact on Apple – July 17, 2018
Apple launches $300 million China Clean Energy Fund – July 13, 2018
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U.S. President Trump puts tech in trade war crosshairs with planned curb on China investment – June 25, 2018
The Trump administration told Apple it would not place tariffs on iPhones assembled in China – June 19, 2018
Chinese stocks end at 2-year low, Apple suppliers sink on trade-war concerns – June 19, 2018
Why Apple CEO Tim Cook is acting like tech’s top diplomat – June 18, 2018
Apple CEO Tim Cook doesn’t expect a full-blown trade war between the U.S. and China – June 5, 2018
President Trump and Apple CEO Cook meet at White House with trade the focus – April 25, 2018
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Why Apple stock can withstand a Chinese trade war – April 5, 2018
Apple CEO Tim Cook heads to China as President Trump orders 25 percent tariffs on up to $60 billion in Chinese imports – March 23, 2018
BoA Merrill Lynch: Apple is prepping a ‘foldable’ iPhone; U.S. and China trade tensions not an issue for Apple – March 23, 2018
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Elon Musk sides with President Trump on trade with China – March 8, 2018
Analyst: President Trump’s tariff impact on Apple would be just a ’rounding error’ – March 7, 2018