Donald Trump's policies will lead to lower levels of globalisation: Oaktree's Howard Marks

Donald Trump's policies will lead to lower levels of globalisation: Oaktree's Howard Marks

Howard Marks, Co-Chairman and Co-Founder, Oaktree Capital Management on March 7 said some of US President Donald Trump's policies will lead to lower levels of globalisation.

Speaking at Moneycontrol Global Wealth Summit 2025, Marks said Trump's tariffs could have an inflationary impact.

"His policies will lead to lower levels of globalisation. In my opinion, globalisation is a wonderful thing. Everyone gets to excel at what they're good at," said Marks.

"When you introduce high levels of uncertainty, it is tough on businesses and tough on investors. Ironically, we have a highly pro-business President who has introduced a lot of uncertainties," added Marks.

Marks' comments come as major US stock indexes declined sharply on Thursday with investors concerned about the impact President Donald Trump's trade policy may have on companies and the broader economy.

Trump's administration has recently slapped tariffs on Canada, Mexico and China.

"Donald Trump less concerned with the whole pie, focused on America's slice of the pie. Donald Trump will try very hard to make business do well, to make American businesses do well. However, some of his actions will have short-term negative effects. His tariffs could have an inflationary impact," added Marks.

He also spoke about his India outlook.

"India has incredible opportunities. You have a very constructive government," said Marks.

“I don’t see massive psychological excesses today. Recent events have reduced enthusiasm further,” said the Oaktree Capital co-founder.

Still, he warned that periods of optimism often lead to poor investment decisions. “Bad deals will be done when things are too positive, which will be exposed during slower times, turning to losses,” he said.

The Moneycontrol Global Wealth Summit 2025 is a flagship, premier platform that brings together leading Indian and global investors, titans of Indian business, policy-makers and other important mover and shakers in the financial market ecosystem to decode the puzzle of wealth creation in India.