Bill Ackman, a prominent investor and founder of Pershing Square Capital Management, shared his views on the potential delay of tariffs proposed by US President Donald Trump.
Ackman's Expert Opinion
Ackman noted that Trump's phone is likely ringing off the hook with various suggestions. He expressed doubt about the time available for achieving deals before the tariffs' implementation deadline. "I would not be surprised to wake up Monday with an announcement from the President that he was postponing the implementation of the tariffs to give him time to make deals."
Overview of Trump's Tariffs
On April 2, Trump signed an executive order establishing reciprocal tariffs on trading partners and a 10% baseline tariff on all imports, which came into effect on April 5. Stricter tariffs targeting countries with which the US has the largest trade deficits are scheduled to start on April 9.
Market Reaction to Tariffs
Following Trump's announcement on April 2, the US stock market shed more value during the trading session on April 4 than the entire crypto market is currently worth. However, the crypto market has held up better than the stock market, drawing attention from both supporters and skeptics of the crypto industry.
The upcoming day, April 7, is expected to be significant in the context of the US economy, particularly regarding a potential announcement from Trump.
