The billionaire investor has leveraged his ties with Trump and Xi in attempts to reach a trade agreement that works for both sides.
The 72-year-old billionaire told us about his vantage point as a confidant and friend to President Donald Trump and as a trusted source to the Chinese government.
"I try to be right in the middle of it," the CEO of Blackstone told Business Insider in an interview earlier this month in advance of the release of his book," He supports the US's goal of having China change its practices, but he is doing what he can to keep the relationship on as good terms as possible.
"I sort of view it as an accident that I know all these people," Schwarzman told Business Insider."I don't know them because there's a trade war. I know them because I've dealt with them all independently, in some cases for decades. And so when I see something that is going wrong ... I like to get involved and try to fix things to the extent that I can."
A Federal Reserve study had shown that nearly half the US was living paycheck to paycheck, and Schwarzman expected criticism of China's trade position — where US exports to China were charged three times as much in tariffs and taxes as Chinese imports to the US — would only escalate. By Schwarzman's account, he made eight trips to China in 2018 alone on behalf of the US administration.
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