Gundlach added the president’s second term will be determined by the success of the U.S. economy.
“If the economy goes into recession and he can’t pullout by removing the tariffs, there’s very little for him to run on,” he said.
Trump launched his 2020 re-election campaign Tuesday night before a packed crowd in Orlando's Amway Center arena. The president touted the economy under his administration as “envy of the world.”
“Our country is soaring to incredible new heights," he said. "Our economy is the envy of the world, perhaps the greatest economy we've had in the history of our country, and as long as you keep this team in place -- we have a tremendous way to go -- our future has never, ever looked brighter or sharper.”
Gundlach said, as long as the economy doesn’t falter, Trump will win re-election. But he warns, there’s a chance Trump might pull out of the presidential race.
“Lyndon Johnson ran for a while too and then pulled out because of the war problems,” Gundlach said.