Billionaire hedge fund manager Bill Ackman is predicting that President Donald Trump will renege on his threats of tariffs on importers, reversing much of the fear rattling financial markets.
Posting on the social media platform X, Ackman, the founder and CEO of Pershing Square Capital Management, says that President Trump’s phone has likely been “ringing off the hook” with calls from other countries asking for deals or compromises on tariffs.
Ackman says that since there’s not enough time to have discussions with each leader, the president may announce that the tariffs will be postponed.
“I would therefore 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.
President Trump has gotten the world’s and our trading partners’ attention and elevated the importance of resolving an unfair tariff regime that has harmed American workers and decimated our industrial base over many decades.
This is a critically important issue that needs to be resolved, and we finally have a president committed to getting this done.
The problem, however, can’t be resolved in days, so why wouldn’t a pause make sense to give the president time to properly resolve this critical issue and to allow companies, large and small, the time to prepare for changes in their supply chains?
The risk of not doing so is that the massive increase in uncertainty drives the economy into a recession, potentially a severe one.
One thing is for sure. Monday will be one of the more interesting days in our country’s economic history.”
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