A potential world trade war “will be a daily conversation” for managers, he said. “We import more from other countries than we export and other countries now tax the U.S. at higher rates than we tax them. I think tariffs should go to zero. But investors should look at fundamentals and look past the daily threatening headlines.”
Schwab also reported during the call that it saw an inflow of $4.8 billion in international equities ETFs and an outflow of $482 million in fixed-income ETFs for the year, through May.