Sawiris: Trade War is “Manageable”, Can Create Opportunities

Billionaire business tycoon Nassef Sawiris considered that the U.S.-China trade war and all the uncertainty it’s causing can still be managed and survived by investors.

Speaking to CNBC, Sawiris affirmed that he’s not deterred from investing despite the mounting trade tensions.

“Trade war is not helpful, but at the same time it’s manageable. I think people worry too much about the trade wars, I think the world can live with some trade friction, it’s not the end of the world,” ,the OCI N.V CEO said.

“It creates some uncertainty for our customers, our farmers in North America had a tough time deciding what to plant, corn or soybeans — it had a lot to do with weather, but more so with whether they can sell soybeans to China or they will be handicapped by some tariffs,” Sawiris added.

“Trade war also creates challenges and opportunities. Vietnam for example is benefiting from the trade war with China, the uncertainty is not welcome by the customers or the investment decision makers,” Sawiris said. “At the same time, I think it’s manageable.”

Sawiris’ net worth is estimated at more than $7.5 billion. He also serves as executive chairman of British football club Aston Villa FC.