This is a good example of what I suspect we’re going to see a lot over the next two or three months which is this is more about politics than it is anything else. There’s going to be a competition amongst the presidential campaigns to look more aggressive on China. It’s very hard to see how you get resolution of much of anything during this window.

Markets are going to have to get used to the fact that we’re going to get a bunch of headlines which sound more and more hostile against China. Once we get through the election, the chinese will retaliate if this is real. In the short-term though, the Chinese will probably not retaliate because they know it’s just a lot of cheap talk going into our presidential election.

If the Chinese were to retaliate after the election, it would likely be against big tech and specifically Apple.

The commerce department announced Friday morning that it would ban U.S. business transactions with China-owned social apps WeChat and TikTok on Sunday. Man Group is one of the world’s largest hedge funds with more than $100 billion in assets under management. Man Group CEO Luke Ellis joins “Squawk Box” to discuss what this move could mean for the global economy and the markets.


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