CEO Of China’s JD.com Says A Trade War Would Hurt ‘A Lot Of American Brands’

A lengthy trade war between China and the United States would be “horrible” and it would end up hurting a lot of American brands, according to the founder of China’s second-largest e-commerce company. That’s because more Chinese consumers now have a preference for buying imported goods, Richard Liu, founder and CEO of JD.com, told CNBC’s Eunice Yoon. “For the next five years, or 10 years, I’m sure in the larger cities, almost half the shopping will come from imported goods,” Liu said. That means American companies would have an opportunity to sell to a large Chinese consumer base that is eager to buy foreign products. “But if it’s a long-term (trade) war, it will be horrible,” Liu said, telling CNBC it would “hurt a lot of American brands.” Read more at CNBC.