Bill Ackman, CEO of Pershing Square Capital Management, will speak in an interview in an episode of The David Rubenstein Show: Peer-to-Peer Conversation held in New York on November 28th, 2023.
Gina Moon | Bloomberg | Getty Images
Hedge fund monk Bill Ackman sighed at Relief after President Donald Trump temporarily dropped some of his sudden “mutual” tariffs, causing a monster rally with risky assets.
“Thank you on behalf of all Americans,” Ackman wrote in a post on social media platform X.[Treasury Secretary Scott Bessent] rock! ”
His comments came after Trump announced a 90-day suspension on mutual tariffs imposed on dozens of trading partners, and then again raised duties to 125% in China. Trump said more than 75 countries have negotiated to contact U.S. officials and negotiate after announcing his new tariffs last week.
“The advantage of @RealdonaldTrump’s approach is that we now understand who is our preferred trading partner and who the problem is,” Ackman said in another post. “This is the perfect setup for trade negotiations for the next 90 days. Advice to China: Take the phone and call the president. He is a strict but fair negotiator.”
Ackman, one of Trump’s most outspoken supporters on Wall Street, called Trump “completely cooperative,” who uses tariffs as a bargaining tool, but he recently warned that the president may have gone too far as he is.
On Sunday, the CEO of Pershing Square Capital Management said the US is heading towards a “economic nuclear winter” of self-harm due to sudden tariffs, prompting a moratorium on country-specific collections.
“Business is a game of confidence. The president has lost the trust of business leaders around the world,” Ackman said on X-Post over the weekend.
Ackman also accused Commerce Secretary Howard Lutnick of betting on government bonds and profiting from economic crashes. The billionaire investor then reverted his criticism, calling it “unfair,” and said outside observers “didn’t know how the sausage was made.”
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