Wall Street’s key figures express concern about the economic impact of President Donald Trump’s massive tariffs on foreign countries.
Billionaire hedge fund investors and Trump’s alliance Bill Ackman Posted X-Sunday claimed that the president’s new mutual tariffs on foreign countries were “large and unbalanced” and did not distinguish between his American friends and his enemies. Ackman’s comments follow the president’s “liberation date” announcement on April 2nd, and will enact swept tariffs on various foreign countries.
“president [Trump] He is raising the issue of tariffs into the world’s most important geopolitical issue, and he is attracting everyone’s attention,” writes Ackman. And yes, other countries are using the United States to protect the home industry at the expense of millions of jobs and economic growth in our country. ”
The billionaire hedge fund manager warned, “by placing large, unbalanced tariffs on friends and enemies, thereby launching a global economic war against the whole world at once.”
Ackman wrote more cards “We have the opportunity to call a 90-day timeout, negotiate and resolve unfair asymmetric tariff transactions and induce trillions of new investments in our country.” (Related: Jerome Powell predicts that Americans will feel ripple effects from Trump’s global tariffs)
“To state what is clear, does not help our country and president’s negotiating positions to try and attack deals while our markets are falling apart,” Ackman said. I wrote it Sunday with social media posts. “People recommending that idea to the president [Trump] You should be fired right now. ”
(Photo by Brian Bedder/Getty Images of the New York Times)
Similarly, JPMorgan Chase CEO Jamie Dimon wrote in his year letter It announced on Monday that the Trump administration’s recent tariffs “are likely to increase inflation,” and warned that “many people are beginning to think it’s likely to be a recession.”
“And despite recent declines in market value, prices remain relatively high,” Dimon wrote in the letter. “These important and somewhat unprecedented forces keep us very careful. There is more detail in Section 3 about all of this.”
Dimon also claimed it was the US. “For years, there was a fairly healthy and stable economy,” the economy said, “When I first started writing this letter, it was already weakening. That was before the recent tariff announcement.”
“The economy faces considerable turbulence (including geopolitics), with potential positives of tax reform and deregulation, potential negatives of tariffs and ‘trade wars,’ continued expansion of stickiness, high financial obstacles, and rather high asset prices and instability,” Dimon further writes.
China’s Ministry of Finance said on Friday. Starting April 10, a 34% tariff will be enacted on all goods imported from the US, and all Chinese import duties will be imposed in retaliation against the Trump administration’s 34% tariff. In particular, US stocks plummeted a few days after Trump announced his “liberation day” tariffs.
Despite playing cards Relaxed As the US stock market becomes “boom” in his economic policies, some Americans are beginning to get sour in the country’s current economic nation. A majority of voters (54%) disapprove of Trump’s handling of the economy, but only 44% have approved it. According to To the NBC News vote, released on March 16th.
JPMorgan Chase did not respond to a request for comment from the Daily Caller News Foundation. Ackman could also be reached for comment.
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