The prospect of market highs and an interest rate cut—fueled by our trade woes with China–spell opportunity for investors in the stock market, says billionaire trader Paul Tudor Jones. This according to an article in Bloomberg.

In an interview with Bloomberg Radio, the head of Tudor Investment Corp. said, “We should be long stocks right now,” adding that the Fed is “probably on the cusp of the first rate cut after a long hiking cycle.” He argued that we probably wouldn’t have seen a rate cut this year had it not been for the tariff battle with China, which Jones said has accelerated where “the Fed would have ultimately gone and fast-forward the possibility—and I double underscore possibility—that we’re going to get a more protracted global slowdown.”

The article reports that Jones sees the U.S. tariff stance as reversing 75 years of expanding globalization and trade: “I think whether we impose the next $300 billion is going to be very material for whether that’s the tipping point for pushing us into a recession…I think it will have a bigger impact economically than the market thinks.”