‘Thank you on behalf of all Americans’

Bill Ackman, the CEO of Pershing Square Capital Management, recently expressed his relief after President Donald Trump decided to temporarily drop some of the steep “reciprocal” tariffs. This move by Trump led to a significant rally in risk assets, prompting Ackman to thank the President on behalf of all Americans. Ackman praised Trump’s decision, calling it a brilliant execution and likening it to a move straight out of “The Art of the Deal.”

The temporary pause on reciprocal tariffs was announced by Trump, who also raised duties on China to a staggering 125%. This decision prompted over 75 countries to engage in negotiations with U.S. officials. Ackman commended Trump’s approach, stating that it has helped identify preferred trading partners and highlighted areas of concern. He encouraged China to reach out to the President for trade negotiations, emphasizing Trump’s reputation as a tough but fair negotiator.

As a staunch supporter of Trump on Wall Street, Ackman has previously endorsed the use of tariffs as a negotiating tool. However, as tensions escalated, he cautioned that the President may have gone too far. Ackman voiced concerns about the potential economic repercussions of escalating trade disputes, warning of a self-inflicted “economic nuclear winter” if the steep tariffs continued.

In a recent social media post, Ackman criticized Commerce Secretary Howard Lutnick for allegedly profiting from the economic downturn by investing in government bonds, citing a conflict of interest. However, he later retracted his statements, acknowledging that outsiders may not have full insight into the situation.

Overall, Ackman’s views on Trump’s trade policies reflect the complexities and uncertainties surrounding global trade relations. As the situation continues to evolve, it will be crucial for businesses and policymakers to navigate these challenges with caution and foresight.