Probability of a full-scale US-China trade war is very low, expert believes

Beijing. April 4. Silkroadnews - Scott Wren, a senior global equity strategist at Wells Fargo Investment Institute, believes the concerns over the US-China war are overblown, CNBC reported.
Wren really worried about the proposed tariffs on China regarding the alleged theft of intellectual property, and anticipated that “some give” would invariably affect the indices of technology stocks, given that many companies have placed their production in China. However, he believes that a full-scale trade war between the United States and China has a very low chance of happening.
He said that the recently introduced US duties on Chinese goods do not have much significance on a wider scope of global trade relations.
“I think we're going to see a lot of extreme targeting of tariffs,” the agency quoted Wren saying. “The volume of trade between the two countries is obviously huge and what the tariffs are actually on is pretty small, so I don't think we’re going to see a big escalation”.
He also added, he expected a lot of repeated negotiations between the U.S. and Chinese politicians instead of a hotter trading battle.
Major technology companies are not going to give up their technology and their rights to sell into China, Wren noted. “The administration, they need to go after this intellectual property problem because it is a huge problem and if it didn't come to the boiling point now, it certainly would at some point down the road.”