Will ‘America First’ Tank The Economy? Experts Warn Trump’s Trade War Can Cause Sharp Downturn

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Business leaders who initially supported President Donald Trump’s pro-business agenda have begun to worry his populist actions may actually damage the economy.

Billionaire Ray Dalio and co-chief investment officer Bob Prince of Bridgewater Associates said in a note to clients Tuesday they are concerned Trump’s populist tendencies will overwhelm his pro-business agenda. Prince and Dalio, who was initially bullish following Trump’s election win, expressed uncertainty as to whether Trump’s aggressive actions are thoughtful or reckless.

“While there is a lot of potential to improve fiscal policies and make beneficial structural reforms, there is also significant risk that his populist policies could hurt the world economy [and worse],” they said in the note obtained by Bloomberg.

Trump last week touted his “America First” policy, signing an executive order pulling the…

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