imageStock Markets7 hours ago (Sep 22, 2019 04:46PM ET)

WASHINGTON (Reuters) – A top Republican donor warned 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 U.S.-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 major donor for Republican election campaigns, is the founder and chief executive officer of Las Vegas Sands Corp (N:LVS), a casino company that does business in the Chinese territory of Macao.

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.

U.S.-China trade tensions have led to tariffs on much of the commerce between the world’s two biggest economies, hitting U.S. factories and farms.

While the U.S. 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 canceled a visit to farms in Montana and Nebraska as deputy trade negotiators wrapped up two days of negotiations in Washington.

Republican casino magnate Adelson cautioned Trump on trade war with China: WSJ

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

This site uses Akismet to reduce spam. Learn how your comment data is processed.