U.S. President Donald Trump is likely to emerge victorious in the 2020 presidential election, according to a CNBC survey of 62 chief financial officers.
The CNBC Global CFO Council consists of companies that combine for a valuation north of $5 trillion and more than two-thirds of those surveyed believe Trump will defeat the yet to be named Democratic nominee. Only one-quarter of respondents say ex-Vice President Joe Biden could beat Trump if he is nominated.
Trade Policy Concerns
The survey of financial executives extended beyond the 2020 election and touched on business sentiment: 36% of respondents said U.S. trade policy is the biggest external risk factor facing their business, followed by China at 16% and over-regulation at 13%.
Respondents classified the health of the U.S. economy as "improving" in the second quarter and the latest survey showed an upgrade to "stable." The opposite holds true in China where respondents noted a "stable" economic environment in the second quarter but now see its economy declining.
The U.K. sentiment declined for the third straight quarter.
The CNBC survey found 65% of CFOs aren't expecting the U.S. economy to dip into a recession in 2020. The majority also don't support interest rate hikes, nothing the current levels are "appropriate."
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