Republican billionaire donor Sheldon Adelson reportedly cautioned Trump that trade war with China could hurt re-election prospects
- Adelson, a casino magnate, is said to have discussed the broader implications of the US-China trade war in a phone call with Trump last month
A top Republican donor warned US President Donald Trump in a phone call last month that his escalating trade war with China could hurt his re-election prospects, The Wall Street Journal reported on Sunday, citing people familiar with the call.
Casino magnate Sheldon Adelson discussed with Trump the broader implications of the US-China trade war rather than the impact on Adelson’s business interests, one of the people familiar with the call said, according to the newspaper report.
Adelson, a billionaire and a major donor for Republican election campaigns, is the founder and chief executive officer of Las Vegas Sands Corp, a casino company that does business in the Chinese territory of Macau.
The White House did not have an immediate comment on the report. A representative of Las Vegas Sands Corp did not immediately respond to a request for comment.
US-China trade tensions have led to tariffs on much of the commerce between the world’s two biggest economies, hitting US factories and farms.
Trump knows ending the trade war will help him win in 2020
While the US economy has looked otherwise strong in recent months, a downturn might weigh on Trump’s hopes of winning the November 2020 election.
Washington and Beijing are in talks to restructure their trade relations, although a deal has appeared elusive. On Friday, Chinese officials unexpectedly cancelled a visit to farms in Montana and Nebraska as deputy trade negotiators wrapped up two days of negotiations in Washington.
