Billionaire hedge fund manager Bill Ackman on Wednesday praised President Donald Trump for pausing most of his recently announced tariffs on foreign imports.
Ackman, the founder and chief executive officer of Pershing Square Capital Management, thanked Trump in a social media post for his move to suspend tariffs on countries that did not retaliate against the U.S. when he first announced the levies for 90 days while also raising tariffs on China.
“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable,” Trump wrote in a post on his social media platform, Truth Social.
“Thank you on behalf of all Americans,” Ackman wrote, adding later, “This was brilliantly executed by [Trump]. Textbook, Art of the Deal.”
Earlier on Wednesday morning, Ackman had issued a plea for Trump to pause his tariffs for 90 days, saying he can "accomplish his objectives without destroying small businesses in the short term.”
Ackman wrote in a follow-up post: “The benefit of [Trump’s] approach is that we now understand who are our preferred trading partners, and who the problems are. This is the perfect setup for trade negotiations over the next 90 days. Advice for China: Pick up the phone and call the President. He is a tough but fair negotiator.”
Theodore Bunker ✉
Theodore Bunker, a Newsmax writer, has more than a decade covering news, media, and politics.
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