Ken Fisher (Trades, Portfolio), the executive chairman and co-chief investment officer of Fisher Investments, joined CNBC for an interview Friday, primarily to discuss President Trump's tariffs on China implemented today.
Fisher said the expected effect of the tariffs has been overblown and "way overestimated." First, the tariffs are too small. Second, most of the tariffs will never be paid because of substitution effects.
"This is a mountain that's being made out of less than a mole hill," Fisher said.
