Billionaire Ray Dalio argued on Tuesday that President Donald Trump's imposed tariffs on China aren't "that big of a deal" for the world's second largest economy.
Dalio, the billionaire founder of the world's biggest hedge fund, said China is likely more concerned about its ongoing relationship with the United States.
"Is this going to be a relationship in which there's a sort of give and take or this going to be an antagonistic relationship?" Dalio of Bridgewater Associates said in a "Squawk Box" interview. "I don't think they like the term 'trade war' as to trade negotiations."
The Trump administration is attacking what it sees as unfair trade on a number of fronts. A new round of U.S. tariffs on $16 billion worth of Chinese imports kicked in last month, prompting an equivalent retaliation from Beijing.
Bridgewater Associates, now with $150 billion in assets under management, was started by Dalio in his two-bedroom apartment in New York City in 1975. Dailo, according to Forbes, has an estimated net-worth of $18.1 billion.
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